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BTCU

GradeCNew York Stock Exchange Arca

Direxion Daily Bitcoin Bull 2X ETF

Leveraged · Single-Stock Leveraged · Direxion · Inception 2026-05-27

This 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.

$27.67−1.48 (−5.08%)

As of Sep 23, 2026, 2:11 PM EDT

History starts May 27, 2026.History starts May 27, 2026.History starts May 27, 2026.
Intraday session: down, 29 prints from 29.15 to 27.67. Range 27.35 to 28.86. Use the arrow keys to read each point.$28.00$28.50$29.0010 AM12 PM2 PM4 PM
Expense ratio
1.15%
Fund size
$4M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$23.17
52W range
low $14.11high $29.58

The ETF.net BTCU Grade

C

40/ 100

Rank 147 of 380 in Single-Stock Long Leveraged⁠

Confidence Medium

Six-pillar profile for BTCU. Scores out of 100: Cost 41, Risk 86, Mission not scored, Tradability 54, Holdings not scored, Durability 52. Strongest: Risk (86). Weakest: Cost (41). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned55This cap took−15Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 41
    Category rank225/380 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 86
    Category rank9/285 · top 3%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 54
    Category rank158/380 · top 42%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 52
    Category rank184/380 · top 48%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on BTCU

ETF.net Research

CBTCU aims for 200% of bitcoin's daily price move, built off a spot bitcoin ETF instead of futures. Leveraged crypto that settles into a regular brokerage account: no wallet, no exchange login.

Stated mandate

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

Why people hold it

  1. 01Leverage on spot: the prospectus names iShares Bitcoin Trust (IBIT) as the initial reference, so the 2X daily target rides a spot bitcoin ETF, not a futures curve.direxion.com
  2. 02Fee lands right at the median for 2X single-asset funds at 1.15%; Direxion notes it would be 0.95% without the reference ETP's acquired fund fees.direxion.com
  3. 03No wallet, no exchange account, no private keys. The exposure arrives through derivatives inside an ETF you buy like any other ticker.direxion.com

Worth knowing

  1. 01Daily reset: hold past one day and compounding takes over, so results over a week or a month can drift well away from 2X bitcoin's move for that stretch.direxion.com
  2. 02Direxion says it plainly: this is not equivalent to owning bitcoin. You hold swap exposure tied to a reference ETP, not coins in your name.direxion.com
  3. 03A 2026 launch with a small asset base and thin trading, which tends to mean wider spreads than the veterans of the leveraged shelf.

BTCU Holdings

As of Sep 22, 2026, 10:03 PM
Asset class
Other
Holdings
—
Top-10 weight
100%
Largest holding
IBIT SWAP ASSET LEG (IBITGSL)24.4%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—IBIT SWAP ASSET LEG (IBITGSL)24.37%72,367$4M1
002—IBIT SWAP ASSET LEG (IBITCTL)21.13%62,741$3M1
003—IBIT SWAP ASSET LEG (IBITMLL)14.73%43,746$2M1
004—DREYFUS TRSRY SECURITIES CASH MGMT12.34%1,795,539$2M82
005—GOLDMAN FINL SQ TRSRY INST 50611.62%1,691,519$2M100
006—IBIT SWAP ASSET LEG (IBITBCL)10.57%31,393$2M1
007—DREYFUS GOVT CASH MAN INS3.02%439,674$440K108
008—GOLDMAN SACHS FIN GOV 465 INSTITUT2.20%320,000$320K75

Showing 1–8 of 8 holdings

BTCU Performance

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

BTCU$16,691
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. BTCU $16,691. SPY $10,415. Use the arrow keys to read each point.$7,560$12,572$17,583Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 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 year—
1 month+21.5%
3 months+66.9%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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+20.0%

Since listing, May 27, 2026

BTCU in the news

ETF.net Research hasn’t filed on BTCU yet — coverage lands here as it’s written.

BTCU Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.04 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2026

One bar per payment. 1 payment in 2026 YTD. Jun 23, 2026 $0.04. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Jun 23, 2026Jun 30, 2026$0.04

BTCU Risk

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.

BTCU Cost

Expense ratio1.15%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

220 of the 329 Single-Stock Long Leveraged funds charge less.

BTCU costs $115.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.