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Strategy Bears Cave In as Anti-MSTR Leveraged ETF Hits Rock Bottom

2025-07-15 07:14:57

Strategy Bears Cave In as Anti-MSTR Leveraged ETF Hits Rock Bottom

Main Idea

The Defiance daily target 2x short MSTR ETF hit a record low as bearish bets against MicroStrategy (MSTR) collapsed, while the 2x long MSTR ETF rose amid Bitcoin's price surge.

Key Points

1. The Defiance daily target 2x short MSTR ETF (SMST) fell 7.58% to $18.17, marking a record low for the fourth consecutive day.

2. MicroStrategy's (MSTR) share price rose over 3% to $456, its highest since November, as Bitcoin surged to record highs above $122,000.

3. The 2x short ETF's price collapsed from over $2,000 at inception, reflecting capitulation by bears betting against MSTR.

4. The 2x long MSTR ETF (MSTX) rose to nearly $50, its highest since January 24, with trading volumes increasing for four straight days.

5. MicroStrategy holds 601,550 BTC ($70.56 million) and has seen its share price increase from $100 to over $440.

Description

Those betting against bitcoin (BTC)-holder MicroStrategy (MSTR) seem to have run out of patience and look to be exiting bearish bets. On Monday, a U.S.-listed exchange-traded fund (ETF) that provides a leveraged bearish exposure to shares of bitcoin holder MicroStrategy sank to lifetime lows on the back of near-record trading activity. Prices for the Defiance daily target 2x short MSTR ETF, listed under the ticker SMST on Nasdaq, slipped 7.58% to $18.17 on Monday, hitting a record low for the fo...

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