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.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
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