Investors Buy Large Volume of Call Options on 2x Bitcoin Strategy ETF (NYSEARCA:BITX)

2x Bitcoin Strategy ETF (NYSEARCA:BITX) was the target of some unusual options trading activity on Friday. Traders bought 61,000 call options on the company. This represents an increase of approximately 76% compared to the average volume of 34,753 call options.

Institutional Trading of 2x Bitcoin Strategy ETF

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

2x Bitcoin Strategy ETF Stock Performance

Shares of NYSEARCA:BITX opened at $64.62 on Friday. 2x Bitcoin Strategy ETF has a 1-year low of $18.21 and a 1-year high of $68.09. The company has a 50 day moving average price of $45.21 and a 200 day moving average price of $36.75.

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.