South Korean funeral company reveals $33 million loss on leveraged ether ETF bet

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email South Korean funeral company reveals $33 million loss on leveraged ether ETF bet A Seoul-based funeral services firm disclosed tens of millions of dollars in unrealized losses tied to leveraged ether ETF investments. By Jamie Crawley , AI Boost | Edited by Sheldon Reback May 20, 2026, 2:46 p.m. 1 min read Make preferred on (Rhodi Lopez/Unsplash) What to know : A South Korean funeral company disclosed a roughly $33 million unrealized loss tied to a leveraged crypto-related ETF. The firm invested in the T-REX 2X Long BMNR Daily Target ETF (BMNU), which targets 200% of BitMine Immersion Technologies’ daily performance. The disclosure highlights rising appetite among South Korean investors for high-risk leveraged trading products. A South Korean funeral services company has reported an unrealized loss of about 45 billion won ($33 million) tied to investments in leveraged ether (ETH) exchange-traded funds (ETFs). The Seoul-based Bumo Sarang, Korean for Parental Love, invested in the T-REX 2X Long BMNR Daily Target ETF (BMNU), a leveraged exchange-traded fund managed by Tuttle Capital Management that seeks to deliver 200% of the daily performance of Bitmine Immersion Technologies (BMNR), the world's largest publicly traded holder of ether . Leveraged ETFs are designed for short-term trading and can magnify both gains and losses, making them among the riskiest exchange-traded products available to retail investors. The company’s losses are unrealized, meaning the holdings have not yet been sold. Still, the disclosure underscores the growing appetite in South Korea for speculative, crypto-linked investment products, particularly leveraged ETFs tied to digital asset firms and related equities. South Korea has become one of the world’s busiest markets for leveraged and inverse ETF trading, with regulators warning investors about volatility and the risks associated with amplified exposure products . The losses also reflect recent sharp swings in crypto-related equities as digital asset markets remain highly volatile. ETFs South Korea Ethereum News AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy . More For You Live markets: Crypto prices remain flat ahead of FOMC minutes, Nvidia earnings By Stephen Alpher , James Van Straten 33 minutes ago Bitcoin is lower by more than 4% over the past week, but has remained in a very tight range around $77,000 for the last three days. Read full story Latest Crypto News Live markets: Crypto prices remain flat ahead of FOMC minutes, Nvidia earnings 33 minutes ago Raoul Pal says AI and crypto are reshaping the global economy faster than most think 33 minutes ago Vitalik Buterin outlines Ethereum's privacy measures. Here is what it means for the network and ETH 39 minutes ago CoinDesk 20 performance update: Uniswap (UNI), up 3.7%, leads index higher 1 hour ago These bitcoin metrics suggest February’s $60,000 selloff may have marked the bottom 2 hours ago Telegram group at center of Jane Street insider-trading allegations in Terra collapse 3 hours ago Top Stories Bitfinex traders double down on bitcoin during five-day slide as longs hit 2.5-year high 4 hours ago Bitcoin, ether, XRP rebound as Senate curbs Trump's Iran war powers 7 hours ago Non-dollar stablecoins are struggling to crack 0.5% of market share 8 hours ago Trump orders government, Fed to review crypto firms' access to payment rails 15 hours ago Even a mountain of T-bills won't save Tether and Circle from a sudden liquidity crisis, expert says 18 hours ago Bitcoin is falling, bond yields are rising. Yet BTC’s implied volatility, an uncertainty gauge, remains low. 8 hours ago