T-Rex Group a financial services company has filed for a 2x leveraged MicroStrategy (MSTR) exchange-traded fund (ETF) in the United States.

This financial vehicle is being deemed as potentially the most volatile ETF in the country.

The filing with the Securities and Exchange Commissions EDGAR platform reveals that the main aim of the objective of the fund, dubbed T-Rex 2X Long MSTR Daily Target ETF, is to magnify the daily performance of the publicly traded common stock of MicroStrategy by 200%.

Bloombergs Senior ETF analyst, Eric Balchunas, highlighted that if approved, this fund could demonstrate fluctuating levels up to 20 times greater than the SP 500, potentially making it the most volatile ETF in the US market. This has prompted this potential product to earn the nickname the ghost pepper of ETFs.

Balchunas compared this ETFs volatility to that of a 3X leveraged Microstrategy ETF available in Europe, which already shows significant fluctuations. He remarked that the QQQ, an index tracking the top publicly traded companies in the US, appears as stable as a money market fund in comparison.

T-Rex just filed for the first-ever 2x Microstrategy $MSTR ETFs.. these are a near-lock to be the most volatile ETFs ever seen in the US, and will likely be in the neighborhood of 20x the volatility of SPX. The ghost pepper of ETF hot sauce.

Founded in 1989 by Michael Saylor, MicroStrategy has gone on to become the largest publicly traded holder of Bitcoin. The business intelligence company currently holds a whopping 214,400 BTC valued at $13.2 billion on its books.

Meanwhile, T-Rex has also filed for six leveraged inverse Bitcoin ETFs with 1.5x-2x leverage.