Leveraged bitcoin futures ETF sees trading surpass 500,000 shares

By RT Watson • Edited by Nathan Crooks
Markets•July 6, 2023, 12:25PM EDT
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Leveraged bitcoin futures ETF sees trading surpass 500,000 shares

Quick Take

  • Volatility Shares Trust’s 2x Bitcoin Strategy ETF saw more than 500,000 shares traded in its first week, according to the issuer.
  • Trading under ticker symbol BITX, the ETF’s shares have fluctuated around $15 per share.
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Volatility Shares Trust, the small issuer of the only leveraged bitcoin futures ETF in the U.S., said that trading exceeded half a million shares in the fund's first week.

The ETF began trading on the Chicago Board Options BZX Exchange last week, and the share price has hovered around $15.

Bitcoin exchange-traded funds have been a hot topic since massive traditional financial institutions like BlackRock and Fidelity began pursuing approval to launch their own spot bitcoin ETFs. Volatility's product differs as it is a leveraged bitcoin futures ETF.

Trading under the ticker symbol BITX, the Volatility fund "seeks daily investment results...that correspond to two times the return of the S&P CME Bitcoin Futures Daily Roll Index for a single day," according to a filing.

Volatility Shares Trust is based in Palm Beach Gardens, Florida.