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ETFs

2x Bitcoin Strategy ETF

BITX
$--
Today’s Change
-- (--)

Snapshot
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Inception Date
Jun 27 2023
Expense Ratio
1.85%
Type
Global Cryptocurrency
Fund Owner
Volatility Shares
Volume (1m avg. daily)
$3,693,417
AUM
$27,616,344
Associated Index
S&P CME Bitcoin Futures Daily Roll Index
Inverse/Leveraged
Leveraged (2x)
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

n/a
Cash & Other
100.00%
n/a
Derivatives offset
-199.97%
Invest with BITX

What is BITX?

The 2x Bitcoin Strategy ETF (BITX) seeks to provide daily investment results before fees and expenses that correspond generally to twice the performance of the S&P CME Bitcoin Futures Daily Roll Index (SPBTFDUE) for a single day not for any other period. The fund does not invest directly in bitcoin. Instead the Fund seeks to benefit from increases in the price of Bitcoin Futures Contracts for a single day. The S&P CME Bitcoin Futures Daily Roll Index is designed to measure the performance of the CME Bitcoin Futures market and is rebalanced on a daily basis between the front contract and the next month contract.

ETFs related toBITX

ETFs correlated to BITX include BITO, BTF, WGMI

BITX
Volatility Shares Trust - 2x Bitcoin Strategy ETF
BITO
ProShares Trust - ProShares Bitcoin Strategy ETF
BTF
Valkyrie ETF Trust II - Valkyrie Bitcoin Strategy ETF
WGMI
Valkyrie ETF Trust II - Valkyrie Bitcoin Miners ETF
BKCH
Global X Funds - Global X Blockchain 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
KOMP
SPDR Series Trust - SPDR S&P Kensho New Economies Composite 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

BITX is a Global Cryptocurrency ETF. The 2x Bitcoin Strategy ETF (BITX) seeks to provide daily investment results before fees and expenses that correspond generally to twice the performance of the S&P CME Bitcoin Futures Daily Roll Index (SPBTFDUE) for a single day not for any other period. The fund does not invest directly in bitcoin. Instead the Fund seeks to benefit from increases in the price of Bitcoin Futures Contracts for a single day. The S&P CME Bitcoin Futures Daily Roll Index is designed to measure the performance of the CME Bitcoin Futures market and is rebalanced on a daily basis between the front contract and the next month contract.

BITX tracks the S&P CME Bitcoin Futures Daily Roll Index.

No, BITX is not actively managed. It is passively 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.

Yes, BITX is passively 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 BITX is -0.0087%. This is the percent change in the value of BITX over the most recent 1-month period. The 3-month return on BITX is %. This is the percent change in the value of BITX over the most recent 3-month period.

ETFs similar to BITX include CEFD, PFFL, and MLPR.

ETFs correlated to BITX include BITO, BTF, and WGMI.

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

Yes, BITX is a Leveraged (2x) ETF: This means that BITX will try to match the performance of S&P CME Bitcoin Futures Daily Roll Index, but with 2x the returns.

Yes, BITX is a Leveraged (2x) leveraged ETF: This means that {characteristics.Identifier} will try to match the performance of S&P CME Bitcoin Futures Daily Roll Index, but move 2x in the opposite direction.

Disclaimers

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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.

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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.