Investors Purchase High Volume of Call Options on 2x Bitcoin Strategy ETF (NYSEARCA:BITX)

2x Bitcoin Strategy ETF (NYSEARCA:BITX) saw unusually large options trading activity on Thursday. Investors purchased 8,351 call options on the company. This represents an increase of approximately 30% compared to the average daily volume of 6,427 call options.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

A number of large investors have recently bought and sold shares of BITX. Selway Asset Management acquired a new stake in shares of 2x Bitcoin Strategy ETF in the first quarter worth $399,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of 2x Bitcoin Strategy ETF in the fourth quarter worth $470,000. Finally, Graypoint LLC acquired a new stake in shares of 2x Bitcoin Strategy ETF in the fourth quarter worth $572,000.

2x Bitcoin Strategy ETF Price Performance

NYSEARCA:BITX opened at $42.22 on Friday. The firm has a 50 day simple moving average of $44.51 and a 200-day simple moving average of $28.44. 2x Bitcoin Strategy ETF has a 1-year low of $9.18 and a 1-year high of $59.74.

About 2x Bitcoin Strategy ETF

The 2x Bitcoin Strategy ETF (BITX) is an exchange-traded fund that is based on the S&P CME Bitcoin Futures Daily Roll index. The fund aims to provide 2x the daily price movements of an index based on rolling front-month CME bitcoin futures. BITX was launched on Jun 27, 2023 and is managed by Volatility Shares.