- CUSIP
- 92864M301
- Issuer
- Volatility Shares
- Inception Date
- Jun 27, 2023
- Category
- Cryptocurrency, Leveraged Cryptocurrency
- Leveraged
- 2x
- Index Tracked
- S&P CME Bitcoin Futures Daily Roll Index (200%)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Cryptocurrency
- Assets Under Management
- $1B
Share Price Chart
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Performance
BITX Performance Chart
2x Bitcoin Strategy ETF (BITX) is down 59.6% since the beginning of the year. BITX is currently trading at $11 per share.
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Returns By Period
2x Bitcoin Strategy ETF (BITX) has returned -59.63% so far this year and -75.18% over the past 12 months.
2x Bitcoin Strategy ETF
- 1D
- -10.38%
- 1M
- -46.54%
- YTD
- -59.63%
- 6M
- -62.06%
- 1Y
- -75.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- 0.25%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BITX Monthly Returns History
Based on dividend-adjusted daily data since Jun 27, 2023, BITX's average daily return is +0.19%, while the average monthly return is +3.82%. At this rate, an investment would double in approximately 1.5 years.
Historically, 51% of months were positive and 49% were negative. The best month was Feb 2024 with a return of +98.7%, while the worst month was Feb 2026 at -42.4%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 5 months.
On a daily basis, BITX closed higher 48% of trading days. The best single day was Nov 11, 2024 with a return of +27.1%, while the worst single day was Aug 5, 2024 at -29.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -10.61% | -42.40% | 3.53% | 24.94% | -9.08% | -33.33% | -59.63% | ||||||
| 2025 | 13.97% | -33.06% | -8.66% | 25.83% | 20.76% | 3.31% | 15.04% | -16.26% | 9.40% | -10.84% | -33.82% | -9.92% | -38.71% |
| 2024 | -2.94% | 98.73% | 21.30% | -34.74% | 26.38% | -24.33% | 13.03% | -25.47% | 13.58% | 18.05% | 84.13% | -13.26% | 163.41% |
| 2023 | -2.97% | -11.13% | -23.56% | 4.42% | 60.53% | 12.65% | 18.30% | 47.23% |
Benchmark Metrics
2x Bitcoin Strategy ETF has an annualized alpha of -84.61%, beta of 3.71, and R2 of 0.27 versus S&P 500 Index. Calculated based on daily prices since June 28, 2023.
- This ETF participated in 412.23% of S&P 500 Index downside but only -87.95% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.27 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -84.61%
- Beta
- 3.71
- R²
- 0.27
- Upside Capture
- -87.95%
- Downside Capture
- 412.23%
Expense Ratio
BITX has a high expense ratio of 2.38%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BITX ranks 2 for risk / return — in the bottom 2% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for 2x Bitcoin Strategy ETF (BITX) and compare them to S&P 500 Index.
| BITX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.83 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | — | — |
| Martin ratioReturn relative to average drawdown | -1.49 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
2x Bitcoin Strategy ETF provided a 39.27% dividend yield over the last twelve months, with an annual payout of $4.37 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $4.37 | $6.02 | $5.54 |
Dividend yield | 39.27% | 21.69% | 10.70% |
Monthly Dividends
The table displays the monthly dividend distributions for 2x Bitcoin Strategy ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.10 | ||||||
| 2025 | $0.09 | $0.06 | $0.53 | $0.54 | $0.52 | $0.54 | $0.61 | $0.62 | $0.61 | $0.57 | $0.57 | $0.74 | $6.02 |
| 2024 | $0.97 | $0.86 | $0.68 | $0.63 | $0.63 | $0.59 | $0.61 | $0.58 | $5.54 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the 2x Bitcoin Strategy ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the 2x Bitcoin Strategy ETF was 82.16%, occurring on Jun 5, 2026. The portfolio has not yet recovered.
The current 2x Bitcoin Strategy ETF drawdown is 82.16%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -82.16%Jun 2026 | 9mo 25d | — | 9mo 26dAug 2025 - now |
2024 bear market2024 | -61.28%Sep 2024 | 5mo 26d | 2mo 7d | 8mo 3dMar 2024 - Nov 2024 |
2025 selloff2025 | -56.40%Apr 2025 | 3mo 21d | 4mo 7d | 7mo 28dDec 2024 - Aug 2025 |
2023 bear market2023 | -43.00%Sep 2023 | 1mo 29d | 1mo 13d | 3mo 12dJul 2023 - Oct 2023 |
2024 bear market2024 | -31.82%Jan 2024 | 14d | 20d | 1mo 4dJan 2024 - Feb 2024 |
Drawdown Indicators
| BITX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.16% | -9.10% | -73.06% |
Max Drawdown (1Y)Largest decline over 1 year | -82.16% | — | — |
Current DrawdownCurrent decline from peak | -82.16% | -2.97% | -79.19% |
Average DrawdownAverage peak-to-trough decline | -31.83% | -1.13% | -30.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.55% | — | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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