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Defiance Daily Target 2X Long MSTR ETF (MSTX)

2x leveraged daily ETF targeting the share price of MicroStrategy (MSTR) – Bitcoin-correlated but **not** direct spot Bitcoin exposure.

Important Disclaimer: This is a **leveraged 2x daily ETF** using derivatives (swaps/options) to target 200% of the daily performance of MicroStrategy (MSTR), a company holding large Bitcoin reserves. It resets daily with compounding effects and is **not** a spot Bitcoin ETF (no direct/physical Bitcoin holdings). Extreme risk/volatility — suitable only for short-term, experienced traders. Long-term holding can lead to substantial deviation from 2x performance due to daily reset. Not the same as spot products like IBIT or FBTC.

Key Facts

IssuerDefiance ETFs
TickerMSTX (NASDAQ)
Expense Ratio1.29%–1.31%
Approx. AUM$299M
TypeLeveraged 2x Daily on MicroStrategy (MSTR) – not spot
InceptionAugust 14, 2024
Official SiteDefiance MSTX Page

Net Inflows & Outflows

Historical daily/weekly net flows (highly volatile due to leverage and MSTR price swings).

Performance Overview

Amplified daily returns vs. MSTR (2x target; extreme volatility/compounding; e.g., massive drawdowns in early 2026).

ESG & Sustainability Metrics

Estimated ESG ratings (limited applicability for leveraged single-stock products).

Pros

  • Provides 2x amplified daily exposure to MicroStrategy (MSTR), a major Bitcoin holder
  • High liquidity and trading volume for a leveraged product
  • Useful for short-term bullish bets on MSTR/Bitcoin proxy
  • No need for direct margin/futures account

Cons

  • **Not spot Bitcoin** – tracks MSTR company stock (with company-specific risks)
  • High expense ratio (1.29%+) + extreme volatility/loss potential
  • Daily reset/compounding can cause significant decay over time
  • Not suitable for long-term holding or buy-and-hold investors

How to Buy MSTX

Available on all major U.S. brokers including Fidelity, Charles Schwab, Vanguard, Robinhood, eToro, Interactive Brokers, and more. Simply search ticker MSTX. **Use extreme caution** – this is a high-risk leveraged product.

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Not financial advice. Leveraged ETFs like MSTX involve extreme risk, including potential for total loss in short periods due to volatility, compounding, and daily resets. Investments carry high risk of principal loss. Data approximate and subject to change; always verify with official sources and understand the product before investing.