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BITX: 2x leveraged (daily) bitcoin futures ETF - Why is risky to invest in a leveraged ETF ?
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agreed, pocket change let me know when Pelosi loads up on $10 million BITX shares
Meanwhile I sell BTC high, move USD to brokerage account, buy $BITX low.
Which leveraged etf? Cuz if its the 2x one "BITX" it does it on the downside as well. So if btc goes down then up to where it was when you originally bought you actually lost money. Leverage etf is short term holds when it's about to go on a tear. Better off buying the normal etf imo or just btc
Don’t listen to someone, especially if their name is SBF… lol. I believe MSTR would be the only one that has BtC exposure and trades at higher volatility and exposure than BTC ETFs. I’m assuming UK doesn’t let you trade $BITX or $BITU? Those are 2x leverage Bitcoin futures ETFs.
hello What broker are you using for buying Covered Calls on BITX ?? My broker is disallowing Selling calls.
If you take a trading approach, vs an investing approach, BITX can be very profitable. As stated above, not designed for long-term hold.
If you’re holding Bitcoin in cold storage, I don’t see a need to buy Bitcoin ETFs. If they’re going to push Bitcoin products in the stock market, then you fight fiat with fiat products. 100% Bitcoin futures double leverage stocks - $BITX and $BITU. If Bitcoin is going to $1 million, those who hold double leverage will have 200% increase of their normal gains. It’s all a game.
The _spot_ Bitcoin ETFs are quite similar for the most part. A few worth calling out: Ticker|Notes -:-|:-- EZBC|Cheapest (Fees, not unit price. Unit price is irrelevant.) IBIT|Largest (Not sure why you would care about size past a certain threshold, but that's their selling point) FBTC|Custodies the bitcoin for you, no third party involvement GBTC|Very expensive. BITX|2X Leveraged. Don't do this unless you understand what you are doing. It doesn't just mean "it goes up twice as fast". Decay will eat you alive.
BITX I may have to get some too just to see how it fairs next to my others. I really like MSTR because it’s so easy to spot the pump and dump, but maybe I’ve just gotten lucky one too many time.
In the IRA: BITX or BITO cslls on half my stack for the next few months, it's only going up so I want to 2x for the run up. Slowly transition to FBTC and sell a bit to derisk as we hit milestone values at 100k, 150k, 200k. Sell on blow off tops, usual 2sigma on the 4hr chart. By Sept or Oct have a 25% cash position back, ready to buy dips. Maybe sell over 2sigma 4hr and buy back in at -2sigma, day trade, but only 10% of stack. Actual BTC, cold storage, never sell unless I need to buy something and it's near a short term top. FIFO so what is sold is a LT cap gain. Buy new if I can and let that age over a year.
Is anyone planning on exploiting BITX?
Based on the charts.. Which we all have access to..BITX would have brought you nearly double the returns percentage wise than regular Bitcoin since its launch almost a year ago...FACT..not opinion..fully supported in the chart You're right, though. Things could change at any time. But during this bull market, so far, BITX would have been more profitable. But you want nothing to do with it during the bear market, and I do retract the statement about holding it long term.
You're right on the second point, holding it during a bear market is not going to work out well, I admit. But if you had held BITX since its launch almost year ago, you would be up nearly double what you would have compared to regular Bitcoin..This is a FACT, not an opinion..Fully supported in the charts..Same with comparing it to IBIT since the ETF launch..Your percent gains would be 2X.. Bottom line BITX has been a better hold so far this year and will continue to be as long as the bull market continues like predicted. But yes, holding for long-term is not going to work out.
I can see how this would not be beneficial during a bear market. But bottom line..If you had been holding BITX since it launched almost a year ago..You would be up nearly double what you would have if you held regular Bitcoin..This is not an opinion...But an obvious fact that is proven in the chart itself.. Compare it to IBIT since the ETF launch, and you will see the same thing. 2X the percent gain. Again, this is a FACT, not an opinion. I retract what I said about holding it long term, but during this bull market, so far, this would've been a better investment decision..so far
Good point, I read the prospectus and report for BITX, and there are def some catches with it. But since it launched almost a year ago..bottom line..You would have made almost double the profits holding BITX over regular Bitcoin..so far..We have been in a raging bull market though You do not want anything to do with it during the bear though, obviously.
Yeah I realize long term is def not a good idea. Bottom line though, if you had held BITX over IBIT since the launch of the ETFs..You would be up double now.
I have 98% of my Roth IRA in BITX. 2x leveraged ETF long because I believer BTC is only going up from here, so does bling those gains is important. I have 1% in IBIT. BTC ETF because tracking the mother coin is important. I have another 1% in a basket of 20 monthly dividend paying ETFs. Because diversification is important. I've got about . 4 BTC in a wallet. YOLO with the Roth IRA. Brokerage account is about 30% spot BTC ETF as well. I can access margin from those if I need it.
I am accumulating the BTC ETFs in my brokerage. Im allowed to borrow up to half my account value. My portfolio is currently 70/30 index to BTC. Collateral of BTC for IBIT is 75% but it runs so fast that it offers the ETFs that have even higher collateral requirements like REITs at 100%. When rates were flat, my margin rate was just 2%. Now it is 7.25%. Monthly cost of $44,000 loan is $250. When rates were 0, the equivalent monthly cost was $69. I used that over time to buy more indexes funds with a growth skew and dividends that pay out about 1% monthly. The margin interest is 0.5% monthly. That's half a percent in compounding monthly gains for free. If rates rise, the economy tanks, and BTC flies. If rates fall, my margin cost falls back to anywhere between 0.5% now and 0.16% interest monthly in a 0% Fed Rate. Overall growth in the last 12 months was a 24% gain. $13350 in market gain and $7000 in qualified dividends. The last three months, which is when I had the ETFs, saw 15.5% growth. $12,800 of that is market growth and over $10,000 of that is crypto ETFs. Dividends were around $1580 the last three months. So of my market gains, Crypto ETFs account for most of it for the last 12 months. It's up 50% in that time frame. It also enabled me to extend the margin loans from $36,000 to $44,000. The interest is a tax write off if you itemize, but we aren't that far as a household yet. I used some of the extra margin to buy the last dip in my Roth IRA, which is now 98% BITX since I can trade it tax free. I'm holding it and DCAing daily through the year with it. $35,000 position at $47.29. Let's see if I'm scrambling a year from now. No other debts to speak of besides house.
It’s only 2x, 5x, 10x, 69,420x, if you can luckily time your exit at the peak, which is basically day trading. Here’s an example of why you *DON’T* want to hold a leveraged ETF/asset for long term: For argument sake, let’s imagine that BITX was around in 2020. If you held that 2x leveraged ETF when Bitcoin was around $10,000 in November 2020, you would’ve made 12x your investment on the ETF in 6 months, when Bitcoin hit $60,000 in April 2021. That’s when you *HAVE* to sell your position to realize a profit of 12x, because you know what would’ve happened, had you held for the long term? You would’ve seen Bitcoin pull back down by 50%, from $30,000 to $60,000, in 3 months. Which means if you still held onto your leveraged position, you would’ve eaten a 100% loss. If you held from July 2021, and onward, you would’ve seen Bitcoin double in price from $30,000 to $60,000 giving you a 4x increase with your leveraged ETF. If you held for another 6 months, instead of taking that 4x profit, you would’ve seen another 50% downturn by May 2022, eating another 100% loss. So you tell me, does holding a leveraged ETF in an asset that has historically tanked by 50% in the months following ATH, a good long-term hold?
BITX tracks futures leveraged. BITU is what you want if you want spit Bitcoin at 2x.
It's not like leverage on a futures exchange where you actually have margin you borrowed. This is a 2X leveraged stock called BITX. I'm buying it on Robinhood. It gives you 2x exposure to Bitcoin. Go look at the chart, sums it up pretty well. And I was saying IF I could buy a 50X leveraged stock tracking the price of Bitcoin, I would.
I looked at the charts from when it was launched, and it is literally 2X the gains of Bitcoin. Regular Bitcoin has done a 3X from the bottom to the high approximately. BITX has done a 6X. The low is like $9, and it peaked at over $59. So if you had been holding it the past year, you would've literally gotten double the gains on Bitcoin without risk of liquidation. Seems like a win-win for me. Prove me wrong. Make a case on why I shouldn't just start DCAING into this instead of Bitcoin.
Of course it does. But you must not have the faith in Bitcoin that I do. You just said that you were going to hold it for 5 years at least. I'm assuming you wholeheartedly believe the price will be higher in 5 years, correct? So why would you not want your gains to be double what they would be otherwise? If there was a chance of liquidation, I would say you're right. But buying IBIT instead of BITX(knowing what it actually is) is basically saying "I'm cool with making less" IMO If they had a 5X, 10X, or even 50X option without risk of liquidation..I'd be DCAing into it. It's going up forever
Controversial take here.. But if you are choosing the ETF route, why not buy BITX? It tracks the price of Bitcoin but with 2X leverage. So every time IBIT goes up 5%, BITX goes up 10%. You literally get twice the bang for your buck without the risk of liquidation. I own real Bitcoin and have been DCAing for a minute now. But I really wish I discovered BITX sooner. It's hard to argue against double gains in something you truly believe in.
I did the same, but with BITX - YOLO beotchhhhh
100% BITX and Proshares just opened trading for BITU a few days ago. Go big or go home with 401k.
They're both different tools. IBIT buys actual BTC and charges you a certain % to do this. BITX is buying futures contracts, which have built in decay during a contango environment. If BTC stays the same over 12 months, you will lose 5-10% in BITX whereas with IBIT you'll lose 1%. In some cases (not now with high rates) you're better off leveraging yourself and buying more IBIT. Just depends on what you think is going to happen.
ZERO? Really? And you think BTC will drop by 50% this year... from the current $65-66k? Possible but very unlikely IMO. In fact, I'm betting big it won't. No risk, no gain. Anyway, I found something even better than BITX... ***BITX LEAPS***. Buy a bunch, sell calls on them, generate a nice monthly income while waiting for BTC to pump. :-))
Bought BTC, More MSTR, and small amount of BITX
BITX looks good in a bull run. But it can go the other way fast. And if Bitcoin ever drops 50% in a day, you’ll have ZERO.
A 50% drop in BTC is a 100% loss in BITX
BITX is not bitcoin. You are selling a product of limited supply with a synthetic leveraged product.
Keep your BTC holdings. Trade BITX
I'm actually on BITX so I'm looking for a 20% profit and exit. Boom. FACE.
Hold some forever Take a bit to trade if you need to scratch that itch For trading fun, I have been selling monthly calls when BTC tops, against long ITM leaps on BITO, to generate cash to buy and hodl more BITX, sort of a poor man's covered calendar call spread
Yes. IF you have long term substantial gains in mind. If you’re thinking short term and can trade you should check out BITX. It’s a leveraged bitcoin fund.
Doesn’t MSTR have the potential for a short squeeze given interest of an underlying asset set to explode in value? The article I read said they were shorting because it was 2.9x the value of its BTC, but BITX is 2x, with no other business model, which MSTR is still a strong tech company with AI. Granted the valuation has nothing to do with that, but MSTR also has a cult following at this point. Good luck bro, yikes.
Hard no. I'm a trader. Why should I keep all my money in Bitcoin when I can get 100 exposure by putting half into $BITX?
Check out the BITX average volume chart
I bought a little more spot ETF, MSTR and BITX at the top a few weeks ago, so it's currently at a discount from where I bought. For me, I'm happy to be in rather than out. A good frame of mind is only buy what you can afford to lose or buy some to hold/hodl for very long term. Having an exit plan mapped out is important for some. Panic selling or needing to pull it out unexpectedly after short term can lead to disaster. For every Bitcoin success story there are many who didn't succeed. The history of Bitcoin is rife with failed exchanges, lost keys, sim swap drained wallets, etc, etc, etc. Plenty of pitfalls besides it not going up when one thinks it should be. For the near term, I'm sticking with Bitcoin via Wall Street. Maybe actual Bitcoin for me in '26/'27.
If you're really bullish convert to BITX. It's the same but 2X movement.
I bought at the literal top the other day of an ETF. I bought BITX at an average price of $59.40 LOL
No. I've been rebalancing my portfolio with scalping-strategy-like trades to keep 100% exposure to bitcoin with leveraged ETFs $BITX and $CONL. It's basically DCA with more steps and savagery. Definitely not like a gentleman.
Thoughts on BITX etf? I have a good amount of actual BTC but a friend of mine is investing in this etf due to him “missing out” on the big gains.
I just keep over 50% in crypto, mostly bitcoin, the rest in my brokerage account. The 50% in my brokerage account is over half in leverage crypto-related ETFs, mostly $BITX, which is a 2X leveraged ETF, and $CONL, which is 1.5X leveraged Coinbase stock, highly correlated to bitcoin. When price goes up and down, I sell high and buy low, but I basically have 100% exposure to bitcoin the whole time. The trading is a pain in the ass but I've programmed most of it to be automated except for moving money between accounts. So I get trading profits on top of 100% bitcoin exposure.
Bought! Pissed I can’t also get more BITX until this evening. 🫡 hold and survive. simple not easy!
Also MSTR is unlikely to go to zero in the event of a 50% correction, unlike BITX. Making MSTR a safer leveraged play that also outperforms BITX.
I have a position in BITX along with FBTC. BITX is 2x leveraged etf. It follows bitcoins gains and loses x2. It's a gamble.
A lot of people here who don't understand the word dilute in this context. Effectively you're buying a leveraged, managed BTC fund. Like the BITX fund. Dilution isn't the dirty word you think it is.
*I can't believe I sold my bitcoin and bought those stupid $BITX and $CONL ETFs right before this run up.*
Just open an education account for them and buy $IBIT or $BITX. Reap the tax benefits, and they get college tuition. If you make more than their tuition I believe they can roll it into an IRA for early retirement start in life.
I’ve been adding to my BITX on the way up. Own it originally from about 21. So far they’ve managed to do 2x Bitcoin and I figure if I’m in, I’m in.
I have ~30k in my Roth and interested in eventually getting a full bitcoin worth next couple years. Do y'all think it's a good or terrible idea for me to put it 2/3 in BITX (2x leveraged Bitcoin ETF) and 1/3 in regular BTC ETFs and keep adding until its eventually (hopefully) grown into equivalent value of a full bitcoin?
I would dca in over a period of time. You could increase your yield by buying BITX 2x BTC etf or IBIT on margin. If it goes down you cover the call and keep DCAing. Then if (when?) you get a 20% dip you plop it all in BTC and when it rebounds sell the BITX and flip it to BTC. This strategy could result in tax implications and I’m not a financial advisor
I have been eyeballing BITX. Waiting for the next dip to buy in.
I’ll be switching back to 100% ETFs later on for the most part, but at the moment I am 70% in BITX, 20% in BITO, 5% in MSTR, and 5% in various BTC miners. BITX is double leverage Bitcoin futures, so whenever the ETFs pop up, BITX pops up twice as much. As for BITO, they give some solid dividends every month. Lastly MSTR is a safe bet as the company holds a lot of BTC, and various Bitcoin miners as a gamble. I don’t see BITX as risky because if it’s double leverage and I know for a fact the price of Bitcoin will go up, might as well just hold that thing indefinitely and capture double the gains.
BITX is 2x leveraged Bitcoin ETF Or could buy BITO options
I'm telling all my friends and coworkers and only 2 people bought small positions. They are happy and surprised by the gains in BITX. 2x LEVERAGED bitcoin etf.
What tickers? I trade BITX 2X Bitcoin Futures ETF
Have a 2x ETF, BITX, that's how confident I am. Any closing of prior day is compounded on another, it's day to day for me, but up 50%, so been 100% worth it.
Of course that also means his $110 hardware could be $1,100. Personally I wouldn’t spend more than 1% of my stack on a hardware wallet because I’d rather have the extra sats. If I was looking to invest only $1,000 I’d probably just put it all in an ETF or MSTR or if I want to get wild BITX.
You can sell out of the money puts against BITO or BITX. I like puts that go 3 weeks out, for example right now BITX is $53.27. I cam sell a march 28 $50 put for $5. So I make 10% on my put if BITX is under $50 on 3-28. Ssy BITX is $48 on 3-28, then you'll get your shares of BITX and you'll spend $50 per share. Then you can sell a call, I'd like $50 call 3 weeks out. BITO pays monster dividends when btc is rising. It's easy!
Aiming for something like this split. What do you think of BITX?
BITX is up 247% over the past year. While spot Bitcoin is up 231%. This is a terrible product with tons of decay. You are taking on 2x the downside risk for barely any comparable return increase. If you hold this longer than a year it will assuredly underperform spot Bitcoin. You need to read up on decay. These types of leveraged derivative products are not meant to be held long term.
I do this and I like it. Its basically like a 2.5x Bitcoin Futures ETF (see BITX) but no volatility decay for long term hold. Thats a unique ( yet, company risk based ) value proposition.
I'm 85% btc, 15% BITX Pretty diversified.
BITX is up over 100% in the last couple months
ETF's in a tax advantaged account meet my current needs. I can buy, sell, rebalance, including Bitcoin alternatives like MSTR or BITX without paying tax until there is a distribution.
Never felt scared that it wouldn’t go back up past ATH, but I’ve always felt scared that I would never have enough to buy when the price is right. Most anxious was when BTC hit around $3k in 2019 and I only had like $1,000 to throw in at the time. Second most anxious is actually about a few months ago when I found out about a double leverage Bitcoin futures ETF called BITX. Converted my entire 401k portfolio to yolo 100% all into BITX and now I’m up about 75%. My 401k looks amazing right now. :D
I bought $4000 of BITX on margin last week in an old account that I just had sitting there with $2500 cash in it. It’s worth $9300 tonight. It’s Bitcoin on steroids
Im a degenerate. Fully loaded on BITO calls and BITX shares for this cycle. Ill slowly sell on the way up starting at 98k and probably sell half of it by 250k if it hits that... if it goes to 500k ill sell everything and look at technicals for a repurchase point. I could absolutely risk missing out on gains but id rather lock in 10s of millions if it gets to that.
Im full send in BITO calls and BITX shares
2017: Bought hard at 3-6k, sold at 19k when my parents started talking about it 2021: Bought hard at 8-12, sold at 58 2022: Saw it was back at 19k and started scaling back in... Now im sitting on about 50x$30 BITO calls expiring between 3/15 and june 2025, and another \~80-120k (dependign on the hour) shares of BITX (2x leveraged bitcoin etf). I had another 20k moving between accounts but wasnt available today to BTD :(. We'll see another large drawdown soon as we continue on the way up but i'm still continuing to buy in while im sitting on multipliers...
For anyone who doesn’t know, there is a 2x BTC etf (I found it on RH but I’m sure it’s other places), that moves double whatever the movement of BTC does. Basically if it drops you get double fucked but if it climbs, your 2” man meat or lady wiener goes to 4”. I still own and believe in BTC heavily but thought this was cool. BITX is the ticker 🤓
go all in on BITX. you're welcome
IMO MSTR is more volatile than Bitcoin, sort of like BITX 2x volatility EFT. Goes up faster than BTC, falls faster than BTC. Great in a green market. GuruFocus has a good chart for seeing when MSTR is ~over valued~. Having invested in MSTR over the past year, I will never bet against MSTR (or Bitcoin) but I might sit on the sidelines sometimes.
You can!! That's part of what is driving this. ARKB and tons of other BTC ETFs are now on the table and buying up most supply. And BITX is 2x futures long.
You should have just bought BITX ETF
12% NW. 3.28BTC. 15k worth of MSTR. 3 kids ROTHS are all 25% IBIT, 25% BITX. Enough for me.
I do this also! My personal favorites are FNGU & BITX.
BITX 2x Bitcoin Futures ETF has options. How should I play it?
I think he may be talking about BITX
You can buy $BITX either your 401k. 2x gains on Bitcoin futures ETF. Up 45 percent in a month.
BITX is 2x leverage, just sayin. 👀
BITX 2x leveraged BTC ETF. That, along with MARA and CONL, and I quadrupled my investment in under 6 months.
Double your gains with BITX. 2x bitcoin futures ETF.
If we're talking about profit only and not holding bitcoin because you believe in it as a concept, I've put quite a bit of my money into BITX which is a 2X BTC price tracking index. 2X the gains 😎 the last few days have been nice.
As the BITX fund page states, “The fund does not invest directly in bitcoin. Instead, the Fund seeks to benefit from increases in the price of Bitcoin Futures Contracts for a single day.” Anything leveraged 2X betting on futures contracts is fraught with dangers of 2X losses and counterparty risk.
Maybe I worded it wrong. I've read some. I know fidelity and back rock are custodians of the bitcoin. I was mostly curious about the (BITX 2X). Everyone in the sub is bullish about bitcoin right? Is everyone in on BITX? I read they do not hold bitcoin, so how do they leverage it? I'm new... be gentle.
A big change has been the addition of BTC ETFs. I manage my wife and I's Roth IRAs and her 401k. ETFs like ARKB are a 1:1000 ratio in price to BTC and is simply a spot price exchange. This allows us to use our pre tax and tax free accounts to trade and gain. And there is BITX which is a 2x leveraged fund that uses Con reacts on futures but it has outperformed BTC in bulk markets. I have used Strike to dollar cost average carrying amounts (I'll get paid, load up 100-200 bucks and have It purchased 0.10-.25 per hour until it runs out. When we had more extra and during dips I increase the DCA to capitalize on the dips. We are up to .4 or so in straight BTC and across our accounts have about .6. It's not 1 BTC in a cold wallet but the value is technically there. Slow and steady my friend. I firmly believe 400-800k by 2030 is easy to happen. Anything now could 20x.