Industry description
The investment seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Bitcoin Futures Contract trading on the CME.
The fund is an ETF that seeks to achieve its investment objective by investing its assets primarily in cash-settled Bitcoin Futures Contracts that trade only on an exchange registered with the Commodity Futures Trading Commission which currently is the Chicago Mercantile Exchange, and cash, cash-like instruments or high-quality securities that serve as collateral to the fund’s investments in Bitcoin Futures Contracts. The fund is non-diversified.