On September 21, 2x Bitcoin Strategy ETF rose 8.97% in regular trading, trading at $20.47/share, with turnover of $100 million. As a 2x leveraged Bitcoin futures ETF, the fund amplified the underlying rally in Bitcoin, which surged past $85,000 — its highest level since late January.
The rally was fueled by a confluence of catalysts. CoinGlass data showed $750 million in crypto liquidations over 24 hours, with $648 million (86%) from short positions across 137,386 traders. US-Iran diplomatic progress eased geopolitical risk appetite, while the SEC's new \"Innovation Exemption\" allowing tokenized stock trading on-chain boosted sentiment. US spot Bitcoin ETFs recorded approximately $593 million in net inflows over Thursday and Friday, reversing earlier outflows and turning the week narrowly positive.
JPMorgan noted that Bitcoin investors remain more heavily hedged than gold investors, suggesting that unwinding of defensive positions could disproportionately benefit Bitcoin. The fund tracks the performance of rolling long positions in the two nearest-maturing Bitcoin futures contracts on the CME, and is non-diversified.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)