The first leveraged bitcoin futures ETF is hitting the market as crypto gains new momentum

  • 📰 CNBC
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 72%

Business News News

The Volatility Shares 2x Bitcoin Strategy ETF (BITX) is set to launch on Tuesday, making it the first leveraged bitcoin futures fund.

Traders will soon have a new way to bet on bitcoin while Wall Street waits to see if the long-awaited spot bitcoin funds are approved by federal regulators. The Volatility Shares 2x Bitcoin Strategy ETF is set to launch on Tuesday. There are already several bitcoin futures funds on the market, including the $1 billion ProShares Bitcoin Strategy ETF , but BITX will be the first leveraged ETF in the space.

which uses margin accounts to gain leverage, is designed to be a short-term trading vehicle, and the fund's prospectus cautions that the promised two-times return is only applicable over one-day periods. Like many leveraged products, BITX is more expensive than traditional ETFs with a management fee of 1.85%. Volatility Shares is small ETF manager, and BTIX will be its first crypto related fund. Its biggest fund is the 2x Long VIX Futures ETF , which has just under $100 million in assets.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines