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Launched

Direxion Daily Bitcoin Bull 2X ETF

BTCUNYSE ArcaDirexionCThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$22.39−0.04 (−0.18%)

At close: Nov 2, 2026, 4:00 PM ET

C52/ 100

Rank 79 of 380 in Single-Stock Long Leveraged

C52/100Rank 79 of 380inSingle-Stock Long Leveraged
Intraday session: down, 79 prints from 22.43 to 22.39. Range 22.39 to 23.11. Use the arrow keys to read each point.22.6022.8023.0010 AM12 PM2 PM4 PM
Expense ratio
1.13%*
Fund size
$5M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
8
Avg volume · 30D
27.2K sh
52W range
low $14.11high $29.58
Launched

*After a fee waiver that ends Sep 1, 2027. Without it: 1.15%.

The ETF.net BTCU Grade

Based on 4 of 6 pillars

C

Score 52 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
79 of 380
Six-pillar profile for BTCU. Scores out of 100: Cost 38, Risk 82, Mission not scored, Tradability 50, Holdings not scored, Durability 55. Strongest: Risk (82). Weakest: Cost (38). Based on 4 of 6 pillars.

Score 52 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D38 out of 100
    Rank 235 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A82 out of 100
    Rank 31 of 368

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C50 out of 100
    Rank 187 of 380

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B55 out of 100
    Rank 153 of 380

Our read on BTCU

ETF.net Research

In short

CWhat if you could get 2x daily bitcoin without touching futures? That's BTCU: swaps written on a spot bitcoin ETF, targeting 200% of bitcoin's daily move. 1.13% net of a waiver through September 1, 2027.

Stated mandate

BTCU seeks daily investment results equal to 200% of Bitcoin's price performance before fees and expenses.

Why people hold it

  • The spot angle. Direxion built this on swaps referencing IBIT, the iShares spot bitcoin ETF, rather than CME futures, so the reference is bitcoin's price, not a futures curve.direxion.com
  • One job, stated plainly: daily results of 200% of bitcoin's price performance before fees and expenses. No stock picking, no discretion, no hedge overlay.direxion.com
  • 2x is the milder rung on the leverage ladder. The daily-reset math that chews up 3x products in choppy tape bites less hard at double.
  • On risk measures, it sits in the stronger part of a crowded leveraged-bull field of hundreds of funds.

Worth knowing

  • This is a one-day tool. Leverage resets daily, so returns over longer stretches can diverge meaningfully from 2x bitcoin, and volatile sideways markets widen that gap.sec.gov
  • Cost runs above the category median: 1.13% net of a waiver through September 1, 2027, 1.15% gross. The cheapest-run 2x names (OKTG 0.75%, TSMG 0.76%) charge less, unwaived.
  • Young and small. It launched in 2026 with a modest asset base and light trading, which can mean wider spreads for anyone sizing a position quickly.

BTCU Holdings

Asset class
Other
Holdings
8
Top-10 weight
100%
Largest holding
Ibit Swap Asset Leg (Ibitgsl)22.3%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataIbit Swap Asset Leg (Ibitgsl)22.32%81,441$3.53M1
2No dataIbit Swap Asset Leg (Ibitctl)17.20%62,741$2.72M1
3No dataIbit Swap Asset Leg (Ibitbcl)12.32%44,960$1.95M1
4No dataIbit Swap Asset Leg (Ibitmll)11.99%43,746$1.9M1
5No dataDreyfus Trsry Securities Cash Mgmt11.38%1,800,542$1.8M73
6No dataGoldman Finl Sq Trsry Inst 50611.01%1,740,959$1.74M90
7No dataGoldman Sachs Fin Gov 465 Institut7.46%1,180,000$1.18M67
8No dataDreyfus Govt Cash Man Ins6.32%1,000,072$1M100

Showing 1–8 of 8 holdings

BTCU Performance

Launched May 27, 2026

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
BTCU$13,864
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,093
Jul 31, 2026 to Nov 2, 2026. BTCU $13,864. SPY $10,093. Use the arrow keys to read each point.$10,000$12,500$15,000$17,500Jul 2026Sep 2026Nov 2026

Jul 31, 2026 – Nov 2, 2026

Returns run to the Nov 2, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BTCU. Periods over one year show the average yearly return.
PeriodBTCU
Year to dateFund launched this yearNo data
1 month−18.9%
3 months+38.6%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BTCU
YearReturn barBTCU
2026 YTD−7.3%

Since listing, May 27, 2026

BTCU in the news

BTCU Dividends

Last payment
$0.16 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 2 payments in 2026 YTD. Jun 23, 2026 $0.04; Sep 22, 2026 $0.16. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Sep 29, 2026$0.16
Jun 23, 2026Jun 30, 2026$0.04

BTCU Risk

Risk pillarA82 out of 100Rank 31 of 368 in Single-Stock Long Leveraged

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
Launched May 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
Launched May 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
Launched May 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.00
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

BTCU Cost

Compare BTCU and GOGL

Overpaying vs GOGL, tied cheapest in Single-Stock Long Leveraged

$16,609

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BTCU 1.13%

    $20,764

  • GOGL 0.20% Tied cheapest

    $4,155

$10,000
30 years

Cost over time

  • BTCU 1.13%
  • GOGL 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530BTCU $20,764GOGL $4,155

Year by year

YearBTCUGOGLOverpaying
10$1,981$365$1,616
20$7,403$1,421$5,982
30$20,764$4,155$16,609
How the 1.13% is worked out

Full fee 1.15%− waiver 0.02%= you pay 1.13%

The waiver ends Sep 1, 2027. After that the fee is 1.15% unless Direxion renews it. Source: prospectus, May 2026.

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