The Volatility Shares 2x Bitcoin ETF (BITX) is a leveraged exchange-traded fund from Volatility Shares that seeks daily investment results, before fees and expenses, equal to twice the daily performance of bitcoin. The fund launched on June 27, 2023 and trades on Cboe under the ticker BITX. It does not hold bitcoin directly. It gets its exposure through CME-listed bitcoin futures contracts, partly through a Cayman Islands subsidiary, and backs those positions with collateral such as U.S. Treasuries and money market funds. The fund had about $1.03 billion in net assets as of late October 2026.

Bitcoin is the first and largest cryptocurrency by market capitalization. It is a decentralized, proof-of-work network that lets users send value peer to peer without an intermediary, and its supply is capped at 21 million coins. Bitcoin is widely held by institutional investors, public companies and spot ETF issuers. CME bitcoin futures, which BITX uses for its exposure, are among the most liquid regulated bitcoin derivatives in the U.S.

BITX is an actively managed, non-diversified fund registered under the Investment Company Act of 1940. Because it uses CFTC-regulated futures, it is also classified as a commodity pool. The fund charges a 1.85% management fee and has a total expense ratio of 2.75%. Foreside Fund Services, LLC serves as distributor. The fund resets its leverage every day, so returns over periods longer than one day can differ significantly from twice bitcoin’s return, especially in volatile markets. Investors could lose the full value of their investment within a single day. The fund is intended for sophisticated investors who actively monitor their holdings.