On August 21, 2x Bitcoin Strategy ETF rose 11.46% in regular trading, trading at $17.065/share, with turnover of $157 million.

On the news front, Bitcoin surged past $71,000, gaining over 10% within 24 hours and triggering the largest short liquidation cascade since records began in 2021. Over 180,000 traders were liquidated globally, with total liquidation volume reaching a record $3.264 billion. The crowded short positioning collided with multiple catalysts, producing a concentrated price release. Declining borrowing costs provided additional tailwinds for risk assets.

Notably, on-chain data showed a trader had opened approximately $81.62 million in BTC and ETH short positions just one day prior, including 500 BTC shorts valued at roughly $35.93 million with a liquidation price of $72,755.85 — a level now within striking distance. As a 2x leveraged Bitcoin futures ETF, BITX amplifies the underlying asset's price action, magnifying both the rally and the short squeeze dynamics into its share price.

The fund generally invests in Bitcoin Futures Contracts through its Subsidiary and in Collateral Investments. The index measures the performance of a rolling long position in the two nearest maturing Bitcoin futures contracts on the CME. The fund is non-diversified.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)