Despite the fun-sounding tickers, the two newly launched Direxion funds saw less than $50,000 in combined trading volume on their first trading day.
Asset manager Direxion has debuted its two newest crypto industry-tracking exchange-traded funds — complete with fun ticker names: “LMBO” and “REKT.”
According to a July 17 statement, LMBO is the ticker for the Direxion Daily Crypto Industry Bull 2X Shares, which seeks a 200% investment return tied to the Solactive Distributed Ledger and Decentralized Payment Tech Index.
It tracks United States-listed securities that operate in the digital asset space, from listed firms operating in the Bitcoin mining industry and blockchain infrastructure to listed firms involved in non-fungible tokens and decentralized finance.
