Is it Time to Tap MicroStrategy ETFs Amid Bitcoin Surge?

Core Insights - Bitcoin prices have reached new highs, prompting TD Cowen analyst Lance Vitanza to raise the price target for MicroStrategy shares to $680 from $590, highlighting the company's competitive cost of capital advantage [1][2] Company Overview - MicroStrategy has strategically utilized a diverse range of securities to fund its Bitcoin acquisitions, currently holding over 600,000 bitcoins valued at more than $70 billion [2] - The company has resumed Bitcoin purchases as prices continue to rise [2] Market Trends - The bullish outlook from TD Cowen is based on expectations of ongoing Bitcoin price increases and MicroStrategy's aggressive Bitcoin accumulation strategy [3] - Bitcoin recently reached an all-time high of $123,000, driven by strong inflows into Bitcoin ETFs, although it has slightly dipped to $120,437.06 [3] Stock Performance - MicroStrategy shares have increased approximately 54% year-to-date, reflecting heightened investor confidence in its crypto-centric strategy [4] - Prior to the price target increase, the average price target for MicroStrategy was $534.77, with forecasts ranging from $175.00 to $650.00, representing a 23.05% increase from the last closing price of $434.58 [4] - The stock surged by 3.1% on July 15, 2025 [4] ETFs Related to MicroStrategy - T-Rex 2X Long MSTR Daily Target ETF (MSTU) aims for 200% of the daily performance of MSTR, charging 105 bps in fees [6] - Grayscale Bitcoin Adopters ETF (BCOR) includes MSTR stock at 21.34% and charges 59 bps in fees [7] - First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) has MSTR stock at 20.49% and charges 85 bps in fees [8] - Bitwise Bitcoin Standard Corporations ETF (OWNB) includes MSTR stock at 19.19% and charges 85 bps in fees [9]