BitX Exchange Price

BITX is a 2x Bitcoin strategy ETF launched by Volatility Shares, with the following main features:

1. Does not directly hold Bitcoin: BITX does not invest directly in Bitcoin, but rather achieves its investment goals by investing in Bitcoin futures contracts.

2. Leverage mechanism: BITX aims to double (2x) the daily performance of the S&P CME Bitcoin futures daily rolling index, amplifying returns on Bitcoin investments through leverage.

3. Trading platform: BITX trades on the CBOE BZX exchange, allowing cryptocurrency traders in the US to access leveraged Bitcoin exposure conveniently and fluidly through traditional brokerage accounts.

4. Management fee: The management fee for BITX is 1.85%, which is higher than the 0.95% for the first Bitcoin futures ETF in the US, BITO.

5. Investment strategy: BITX aims to achieve its investment objectives by investing in cash-settled Bitcoin futures contracts and by investing in Bitcoin futures contracts through affiliated subsidiaries.

6. Risks: BITX has various risks, including instability of investment targets, leverage risk, management risk, compounding risk, business information disclosure risk, liquidity risk, and counterparty risk.