Crypto leveraged ETFs delisted in under a year amid broader closures

More than 20 leveraged and inverse ETFs were delisted in April, with most failing to survive for a full year, Bloomberg ETF analyst Eric Balchunas reported on X. The closures included several cryptocurrency-related products. Direxion's 2x long crypto industry ETF (LMBO) and 1x short ETF (REKT) were delisted after just 0.68 and 0.67 years, respectively, while Tidal Investments' Altseason 2x ETF (QXAS) was shut down after 0.96 years. Hybrid products combining stock indices with Bitcoin, such as the S&P500+Bitcoin (OOSB) and Nasdaq100+Bitcoin (OOQB) ETFs, also closed within about a year of launching. Balchunas noted that firms are quick to withdraw these products once they identify a lack of demand, adding that the number of newly launched 2x leveraged ETFs each month far exceeds the number of closures.