2x Bitcoin Strategy ETF (NYSEARCA:BITX) Sees Unusually-High Trading Volume – What’s Next?

2x Bitcoin Strategy ETF (NYSEARCA:BITX) shares saw an uptick in trading volume on Tuesday . 4,109,730 shares traded hands during mid-day trading, a decline of 23% from the previous session’s volume of 5,302,947 shares.The stock last traded at $31.47 and had previously closed at $30.33.

2x Bitcoin Strategy ETF Price Performance

The company has a 50 day moving average of $27.08 and a 200 day moving average of $35.30.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BITX. Hollencrest Capital Management acquired a new position in 2x Bitcoin Strategy ETF during the second quarter worth approximately $40,000. Selway Asset Management purchased a new stake in shares of 2x Bitcoin Strategy ETF during the 1st quarter valued at $399,000. VitalStone Financial LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 142.3% during the 1st quarter. VitalStone Financial LLC now owns 1,575 shares of the company’s stock worth $84,000 after buying an additional 925 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its holdings in shares of 2x Bitcoin Strategy ETF by 554.3% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 135,184 shares of the company’s stock worth $7,199,000 after buying an additional 114,524 shares during the last quarter.

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.