Leveraged ETFs Tied to Strategy See Trading Volume Surge as Bitcoin-HODLer MSTR Teeters on 200-Day Average

Defiance's leveraged Strategy (MSTR) exchange-traded funds (ETFs) saw a surge successful enactment connected Monday arsenic the bitcoin (BTC)-holding firm's shares fell to their 200-day average.

A grounds 24.33 cardinal shares successful the Defiance regular people 2x agelong MSTR ETF, trading nether the ticker MSTX, changed hands arsenic the ETF terms slipped 32% to $17.90, the lowest since September, according to information root TradingView. The ETF seeks to present 200% of the regular percent alteration successful the stock terms of Strategy, formerly known arsenic MicroStrategy.

Meanwhile, trading measurement successful the Defiance regular people 2x abbreviated MSTR ETF (SMST) tallied 51.21 million, the highest since Nov. 24. The ETF seeks to present concern results corresponding to 2 times the inverse of the regular show of shares successful Strategy. (The nett inflow fig for some funds for Monday is not yet available.)

MSTR fell 16.6% Monday to its 200-day elemental moving mean (SMA), revisiting the precocious February debased of $231.62 arsenic the broader marketplace wilted connected U.S. recession fears and continued emergence successful the anti-risk Japanese yen. The stock terms has declined 55% since reaching a highest of $543 connected Nov. 21.

Strategy is the world's largest public-listed bitcoin holder, boasting a coin stash of 499,096 BTC ($40.4 billion). The institution began accumulating BTC arsenic a equilibrium expanse plus successful November and has since pursued an assertive accumulation strategy of backing purchases with indebtedness sales.

On Monday, the institution announced a $21 cardinal at-the-market (ATM) offering of its Series A preferred banal (STRK), the proceeds of which volition beryllium mostly utilized to concern caller BTC purchases.