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

2x Bitcoin Strategy ETF (NYSEARCA:BITX) was the target of unusually large options trading on Friday. Traders purchased 61,000 call options on the stock. This represents an increase of 76% compared to the typical daily volume of 34,753 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new stake in 2x Bitcoin Strategy ETF in the second quarter worth $40,000. VitalStone Financial LLC boosted its holdings in shares of 2x Bitcoin Strategy ETF by 128.3% during the 2nd quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock valued at $114,000 after buying an additional 2,020 shares in the last quarter. Finally, Graypoint LLC grew its position in shares of 2x Bitcoin Strategy ETF by 23.1% in the 3rd quarter. Graypoint LLC now owns 13,537 shares of the company’s stock worth $386,000 after buying an additional 2,536 shares during the period.

2x Bitcoin Strategy ETF Price Performance

Shares of BITX stock traded up $2.41 during mid-day trading on Friday, reaching $64.88. The stock had a trading volume of 9,367,471 shares, compared to its average volume of 6,509,543. The stock’s 50-day moving average price is $44.46 and its two-hundred day moving average price is $36.62. 2x Bitcoin Strategy ETF has a 52-week low of $18.21 and a 52-week high of $68.09.

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.