South Korean funeral company reveals $33 million loss on leveraged ether ETF bet
CoinDesk
South Korean funeral firm Bumo Sarang reported a $33 million unrealized loss from a high-risk, leveraged ether-linked ETF investment.Summary
Seoul-based funeral services company Bumo Sarang has disclosed an unrealized loss of approximately $33 million resulting from its investment in the T-REX 2X Long BMNR Daily Target ETF. This leveraged fund tracks Bitmine Immersion Technologies, a major holder of ether. The significant loss highlights the increasing risks associated with South Korean retail investors' growing appetite for speculative, crypto-linked financial products in a market already flagged by regulators for its high volatility.
(Source：CoinDesk)