Key Takeaways
- • Direxion launched four new 2X daily leveraged bull ETFs on May 27, 2026, targeting gold (UGLD), silver (USLV), bitcoin (BTCU), and ethereum (EVMU), marking the firm's expansion into digital assets and precious metals with pure swap spot exposure.
- • UGLD and USLV carry net expense ratios of 1.07% and 1.10% respectively, with initial reference funds tied to SPDR Gold Trust (GLD) and iShares Silver Trust (SLV), while maintaining flexibility to use alternative reference products.
- • BTCU and EVMU represent Direxion's entry into leveraged crypto ETFs, with BTCU using iShares Bitcoin Trust ETF (IBIT) as its initial reference fund and carrying a net expense ratio of 1.13%, enabling tactical traders and crypto-focused investors to gain 2X daily exposure.
- • These ETFs are positioned as the first and only funds to offer 2X daily leveraged pure swap spot exposure across both precious metals and digital assets, targeting both bull market traders and investors seeking tactical allocation opportunities.
Summary
Direxion Investments expanded its leveraged and inverse ETF lineup on May 27, 2026, launching four new funds that provide 2X daily leveraged exposure to precious metals and cryptocurrencies. The expansion reflects growing institutional and retail demand for tactical access to these alternative asset classes, with each fund designed to deliver double the daily performance of its underlying reference asset before fees and expenses.
The precious metals component consists of two funds. The Direxion Daily Gold Bull 2X ETF (UGLD) targets gold with a net expense ratio of 1.07% and references the SPDR Gold Trust (GLD) as its primary benchmark, though Direxion reserves the right to utilize alternative reference funds. Similarly, the Direxion Daily Silver Bull 2X ETF (USLV) offers 2X daily silver exposure at a net expense ratio of 1.10%, initially tracking the iShares Silver Trust (SLV) with flexibility for alternative reference products.
On the cryptocurrency side, Direxion introduced bitcoin and ethereum-focused instruments. The Direxion Daily Bitcoin Bull 2X ETF (BTCU) carries a 1.13% net expense ratio and uses the iShares Bitcoin Trust ETF (IBIT) as its initial reference fund, providing leveraged spot exposure to bitcoin. The Direxion Daily Ether Bull 2X ETF (EVMU) completes the lineup, targeting ethereum investors seeking similar 2X daily amplification.
Direxion positions these products as the first and only offerings to provide 2X daily leveraged pure swap spot exposure across both precious metals and digital assets. The launches appeal to tactical traders seeking short-term directional exposure and institutional investors looking to hedge or gain concentrated allocation to these volatile asset classes. The ability to adjust reference funds provides operational flexibility as the digital asset and precious metals ETF landscape evolves.
The precious metals component consists of two funds. The Direxion Daily Gold Bull 2X ETF (UGLD) targets gold with a net expense ratio of 1.07% and references the SPDR Gold Trust (GLD) as its primary benchmark, though Direxion reserves the right to utilize alternative reference funds. Similarly, the Direxion Daily Silver Bull 2X ETF (USLV) offers 2X daily silver exposure at a net expense ratio of 1.10%, initially tracking the iShares Silver Trust (SLV) with flexibility for alternative reference products.
On the cryptocurrency side, Direxion introduced bitcoin and ethereum-focused instruments. The Direxion Daily Bitcoin Bull 2X ETF (BTCU) carries a 1.13% net expense ratio and uses the iShares Bitcoin Trust ETF (IBIT) as its initial reference fund, providing leveraged spot exposure to bitcoin. The Direxion Daily Ether Bull 2X ETF (EVMU) completes the lineup, targeting ethereum investors seeking similar 2X daily amplification.
Direxion positions these products as the first and only offerings to provide 2X daily leveraged pure swap spot exposure across both precious metals and digital assets. The launches appeal to tactical traders seeking short-term directional exposure and institutional investors looking to hedge or gain concentrated allocation to these volatile asset classes. The ability to adjust reference funds provides operational flexibility as the digital asset and precious metals ETF landscape evolves.
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