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ETFs

Global X Funds Global X Blockchain & Bitcoin Strategy ETF

BITS
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Nov 15 2021
Expense Ratio
0.65%
Type
Global Cryptocurrency
Fund Owner
Global X
Volume (1m avg. daily)
$51,376
AUM
$11,240,459
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

BKCH
Global X Funds - Global X Blockchain ETF
29.32%
CLIP
Global X Funds - Global X 1-3 Month T-Bill ETF
20.23%
B 0 10/12/23
B 10/12/23
5.74%
B 0 10/24/23
B 10/24/23
5.73%
n/a
B 10/17/23
2.87%
n/a
CASH
2.39%
n/a
OTHER PAYABLE & RECEIVABLES
-1.57%
Invest with BITS

What is BITS?

The Fund is an actively managed exchange traded fund ( ETF ) that seeks to achieve its investment objective by investing in equity securities of U.S. and non-U.S. issuers that Global X Management Company LLC (the Adviser ) believes are positioned to benefit from further advances in the fields of blockchain technology ( Blockchain Companies ), and in long positions on U.S. listed bitcoin futures ( Bitcoin Futures ) contracts. Such Bitcoin Futures contracts will be standardized, cash-settled bitcoin futures contracts traded on commodity exchanges registered with the Commodity Futures Trading Commission ( CFTC ). Currently, the only such contracts are traded on, or subject to the rules of, the Chicago Mercantile Exchange ( CME ). Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in Blockchain Companies and in long positions on U.S. listed Bitcoin Futures contracts. Under normal circumstances, the Fund will invest at least 25% of its assets in Blockchain Companies and will have notional exposure to Bitcoin Futures equal to at least 20% of the total assets of the Fund. The Funds 80% investment policy is non-fundamental and requires 60 days prior written notice to shareholders before it can be changed.

ETFs related toBITS

ETFs correlated to BITS include BKCH, WGMI, BITO

BITS
Global X Funds - Global X Blockchain & Bitcoin Strategy ETF
BKCH
Global X Funds - Global X Blockchain ETF
WGMI
Valkyrie ETF Trust II - Valkyrie Bitcoin Miners ETF
BITO
ProShares Trust - ProShares Bitcoin Strategy ETF
BITX
Volatility Shares Trust - 2x Bitcoin Strategy ETF
BTF
Valkyrie ETF Trust II - Valkyrie Bitcoin Strategy ETF
FDIG
Fidelity Covington Trust - Fidelity Crypto Industry and Digital Payments ETF
BLOK
Amplify ETF Trust - Amplify Transformational Data Sharing ETF
CONY
Tidal Trust II - YieldMax COIN Option Income Strategy ETF
CONL
GraniteShares ETF Trust - GraniteShares 1.5x Long Coinbase Daily ETF
ARKW
ARK Investment Management LLC - ARK Next Generation Internet ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

BITS is a Global Cryptocurrency ETF. The Fund is an actively managed exchange traded fund ( ETF ) that seeks to achieve its investment objective by investing in equity securities of U.S. and non-U.S. issuers that Global X Management Company LLC (the Adviser ) believes are positioned to benefit from further advances in the fields of blockchain technology ( Blockchain Companies ), and in long positions on U.S. listed bitcoin futures ( Bitcoin Futures ) contracts. Such Bitcoin Futures contracts will be standardized, cash-settled bitcoin futures contracts traded on commodity exchanges registered with the Commodity Futures Trading Commission ( CFTC ). Currently, the only such contracts are traded on, or subject to the rules of, the Chicago Mercantile Exchange ( CME ). Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in Blockchain Companies and in long positions on U.S. listed Bitcoin Futures contracts. Under normal circumstances, the Fund will invest at least 25% of its assets in Blockchain Companies and will have notional exposure to Bitcoin Futures equal to at least 20% of the total assets of the Fund. The Funds 80% investment policy is non-fundamental and requires 60 days prior written notice to shareholders before it can be changed.

Yes, BITS is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, BITS is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on BITS is -0.056%. This is the percent change in the value of BITS over the most recent 1-month period. The 3-month return on BITS is -0.1433%. This is the percent change in the value of BITS over the most recent 3-month period.

The standard deviation of BITS for the past year is 0.5707%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to BITS include PFF, PGF, and PGX.

ETFs correlated to BITS include BKCH, WGMI, and BITO.

ETFs that are inversely correlated to BITS include BITI, SARK, and HDGE.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.