NEW YORK, Jan 22, 2026, 12:01 PM EST — Regular session
- IREN dropped 0.5% in late morning trading, having swung over $3 per share earlier in the session.
- Tradr ETFs rolled out a 2x short single-stock ETF linked to IREN, introducing a fresh option for bearish bets.
- Bitcoin climbed roughly 1.4%, with major U.S.-listed miners showing a mixed performance.
IREN Ltd shares dipped 0.5% to $53.23 by 11:46 a.m. EST Thursday, after kicking off at $55 and hitting a peak of $56.66 earlier. Volume has been active, with roughly 16.7 million shares changing hands.
Traders now have another tool to short IREN without tapping margin or options. Tradr ETFs rolled out a double-inverse fund tied to IREN, designed to deliver twice the inverse of the stock’s daily performance. This setup can crank up interest on both sides when the stock is already volatile.
“Today’s launches mark our first short single stock leveraged ETFs since 2022,” said Matt Markiewicz, head of product and capital markets at Tradr ETFs. He highlighted recent moves in their long single-stock offerings, including those linked to IREN and others. (Source: https://www.prnewswire.com/news-releases/tradr-rolls-out-short-leveraged-etfs-on-apld-iren-lcid–nbis-302666997.html)
Cboe’s latest listings notice revealed the Tradr 2X Short IREN Daily ETF, ticker IREZ, is scheduled to start trading on Jan. 22.
Tradr’s website states that IREZ aims to deliver -200% of IREN’s daily returns, before fees and expenses, and explicitly warns it’s not designed for longer-term holds. Put simply: if you keep it beyond a single day, the results can stray significantly from what you might expect.
IREN’s price action was already unstable ahead of Thursday. It ended Tuesday at $54.26 and slipped to $53.48 on Wednesday. That day’s range was wide, stretching from about $48.83 up to $57.19, per historical data.
Crypto-linked stocks showed mixed action. Bitcoin climbed roughly 1.4% to around $88,924. Meanwhile, miner shares Marathon Digital and Riot Platforms slipped, but CleanSpark gained ground.
IREN has drawn investment from both crypto and AI-infrastructure sectors. The firm positions itself as an operator of renewable-powered data centers, combining bitcoin mining with GPU support for AI tasks.
The bear ETF joins a lineup already featuring a leveraged product tied to the stock. Back in October, Tradr rolled out a 2x long IREN ETF (IREX), offering short-term traders additional tools to back strong convictions—no options involved.
Leveraged and inverse single-stock ETFs, however, carry risks. They reset every day, meaning compounding can eat into returns when markets jump around. Plus, a sudden big move in the underlying stock can quickly drain a leveraged ETF’s value—often catching retail investors off guard.
For IREN, the key macro factor is still where crypto prices head and how eager the market is for high-beta AI infrastructure bets. If bitcoin drops again or growth stocks take a hit, the group could feel the impact fast.
Eyes are on earnings next. Nasdaq data has IREN set to release results on Feb. 11. Investors will zero in on updates about capacity, customer demand, and funding requirements.
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