{
 "ticker": "BTCZ",
 "name": "T-REX 2X INVERSE BITCOIN DAILY TARGET ETF",
 "issuer": "T-REX",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/BTCZ",
 "html": "https://etfiq.com/funds/BTCZ",
 "markdown": "https://etfiq.com/funds/BTCZ.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: BTCZ returned \u221238.8% where its own daily promise gave \u221239.2%, 0.5 points over.",
 "key_facts": [
  {
   "key": "what_ibit_did",
   "label": "What IBIT did",
   "value": "+21.4%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "BTCZ, what IBIT did: +21.4%, as of Sep 11, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What \u22122 times a day gives",
   "value": "\u221239.2%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "BTCZ, what \u22122 times a day gives: \u221239.2%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221238.8%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "BTCZ, what the fund returned: \u221238.8%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_added",
   "label": "The fund itself added",
   "value": "+0.5 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "BTCZ, the fund itself added: +0.5 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$30m",
   "source": "source, as filed for Jun 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "BTCZ, net assets: $30m (source, as filed for Jun 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.95%",
   "source": "485BPOS XBRL, Apr 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "BTCZ, expense ratio: 0.95% (485BPOS XBRL, Apr 30, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "-2 times the daily move of IBIT, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "-1.81 times, against -2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "IBIT",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "asset class, crypto",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$30m",
   "source": "source, as filed for Jun 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.95%",
   "source": "485BPOS XBRL, Apr 30, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jul 10, 2024",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "38% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221236.5%",
   "IBIT": "+22.0%",
   "-2x the move": "\u221243.9%",
   "Difference": "+7.5 pts",
   "IBIT moved about": "45%"
  },
  {
   "window": "3 months",
   "Fund": "\u221238.8%",
   "IBIT": "+21.4%",
   "-2x the move": "\u221242.9%",
   "Difference": "+4.1 pts",
   "IBIT moved about": "38%"
  },
  {
   "window": "6 months",
   "Fund": "\u221230.1%",
   "IBIT": "+8.4%",
   "-2x the move": "\u221216.8%",
   "Difference": "\u221213.2 pts",
   "IBIT moved about": "38%"
  },
  {
   "window": "1 year",
   "Fund": "+23.5%",
   "IBIT": "\u221232.7%",
   "-2x the move": "+65.4%",
   "Difference": "\u221241.8 pts",
   "IBIT moved about": "45%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221286.0%",
   "IBIT": "+34.0%",
   "-2x the move": "\u221268.0%",
   "Difference": "\u221218.1 pts",
   "IBIT moved about": "48%"
  }
 ],
 "questions": [
  {
   "q": "Did BTCZ return -2 times IBIT?",
   "a": "Over the window to Sep 11, 2026, IBIT moved +21.4% and BTCZ returned \u221238.8%. 2 times that move is \u221242.9%, so the fund came out 4.1 points ahead of it."
  },
  {
   "q": "Why does BTCZ not return -2 times over a year?",
   "a": "Because it resets daily. BTCZ aims at -2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get."
  },
  {
   "q": "Which -2x IBIT ETF tracked its stated multiple most closely?",
   "a": "2 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the arithmetic."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}