Leveraged MicroStrategy ETFs Plunge Over 80% YTD

Leveraged exchange-traded funds tied to MicroStrategy are suffering severe losses. The 2x leveraged long ETFs MSTX and MSTU are both down 82% year-to-date, trading at their lowest levels since their 2024 debuts. Similarly, MSTP has fallen 81% since its June 2025 launch and is also at an all-time low.

MicroStrategy (MSTR) itself has declined 46% year-to-date, reaching its lowest price since February 2024. The leveraged ETFs have magnified losses: last week alone, MSTX, MSTU, and MSTP nearly halved in value as MSTR dropped 27%.

Both long and short leveraged ETFs tied to MicroStrategy that launched in 2024 are down more than 90% since inception, despite billions of dollars flowing into the funds. The data highlights how leverage is amplifying downside in the crypto-related equity space.