Leveraged Bitcoin ETF Sees Whiplash Outflow as Traders Race for the Exits
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The T-Rex 2X Long Bitcoin Daily Target ETF, BTCL, recorded a dramatic swing in sentiment on December 18, 2025, with investors pulling an estimated $54.6 million from the fund. The single-day outflow dwarfs the ETF’s latest reported assets under management of roughly $37.9 million, meaning about 144% of its AUM changed hands in net redemptions—an unusually intense vote of no confidence for a leveraged product tied to Bitcoin.
Such an outsized move relative to AUM suggests not just routine profit-taking, but a wholesale repositioning by traders who had been using BTCL to express leveraged bullish bets on Bitcoin. In leveraged ETFs, rapid shifts like this often coincide with heightened volatility in the underlying asset, as risk managers, algorithmic strategies, and short-term speculators all respond simultaneously to price swings and tightening liquidity conditions.
The related asset, BTC-USD, is currently trading around $88,041.06. Over the past three months, Bitcoin has fallen approximately 24.85%, a sharp retreat that has undermined the thesis behind long-leverage exposure and magnified losses for investors in products like BTCL. Reflecting this pressure, the one-day technical outlook on Bitcoin flashes a bearish signal, with the indicator set at Strong Sell.
The scale of the redemptions underscores how quickly leverage-fueled inflows can reverse when momentum turns against Bitcoin, and raises questions about the durability of speculative capital in crypto-linked ETFs if volatility persists. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.