David Einhorn’s Greenlight Capital said in its quarterly letter that it established a new arbitrage position by shorting bitcoin-levered single-stock exchange traded funds, like T-Rex 2X Long MSTR Daily Target ETF (MSTU) and Defiance Daily Target 2x Long MSTR ETF (MSTX), partially offset by owning shares of MicroStrategy (MSTR). Greenlight says the position was a “material winner” in the fourth quarter.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MSTR:
- SEC Acting Chairman announces formation of new crypto task force
- MicroStrategy shareholders vote to increase amount of common shares
- MicroStrategy Has Done it Again with a Whopping 11,000 Bitcoin Purchase
- Notable open interest changes for January 21st
- Microstrategy Boosts Bitcoin Holdings with Equity Sales