Crypto-Linked Leveraged ETFs Among 20+ Funds Delisted in April, Most Lasting Under a Year

More than 20 leveraged and inverse ETFs were delisted in April, with many failing to survive their first year, according to Bloomberg ETF analyst Eric Balchunas. Several crypto-linked leveraged products were among the closures — Direxion’s 2x Long Crypto Industry (LMBO) and 1x Short Crypto Industry (REKT) lasted ~0.68 and ~0.67 years respectively; Tidal’s Altseason 2x (QXAS) closed after ~0.96 years; hybrid S&P 500 + Bitcoin (OOSB) and Nasdaq 100 + Bitcoin (OOQB) ETFs also shut within about a year. Balchunas noted managers quickly withdraw uneconomic products, even as issuers keep launching many new 2x ETFs each month. Market impact: these delistings underscore liquidity, scale and complexity risks for leveraged crypto products, likely reducing investor appetite for niche/leveraged crypto ETFs and raising scrutiny of product viability.