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BTRN

GradeCNew York Stock Exchange Arca

Global X - Bitcoin Trend Strategy ETF

Crypto derivatives · Crypto · Global X · Inception 2024-03-20

This fund gets its cryptocurrency exposure through futures contracts rather than holding coins directly. Futures-based returns can differ from the spot price of the coin.

$27.44−0.48 (−1.71%)

As of Sep 23, 2026, 3:08 PM EDT

History starts Mar 22, 2024.
Intraday session: down, 61 prints from 27.92 to 27.44. Range 27.30 to 27.82. Use the arrow keys to read each point.$27.60$27.8010 AM12 PM2 PM4 PM
Expense ratio
0.95%
Fund size
$1M
1Y return
−6.0%
Yield · Last 12 months
27.60%
Holdings
3
Volume · 30D
0M sh
NAV per share
$27.93
52W range
low $24.48high $40.66

The ETF.net BTRN Grade

C

40/ 100

Rank 3 of 7 in Bitcoin Derivatives⁠

Confidence Low

Six-pillar profile for BTRN. Scores out of 100: Cost 51, Risk 68, Mission not scored, Tradability 47, Holdings not scored, Durability 52. Strongest: Risk (68). Weakest: Tradability (47). 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 earned54This cap took−14Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 51
    Category rank4/7 · 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.
    BScore 68
    Category rank1/5 · top 20%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 47
    Category rank4/7 · mid-pack

  • 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 rank3/7 · top 43%

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

Our read on BTRN

ETF.net Research

CMost bitcoin funds have one setting: on. BTRN follows a CoinDesk trend index that shifts its mix between CME bitcoin futures and short-term Treasury exposure as the trend turns, so the throttle moves with the signal instead of staying pinned.

Stated mandate

BTRN seeks to track the CoinDesk Bitcoin Trend Indicator Futures Index before fees and expenses. It adjusts exposure between CME bitcoin futures and short-term Treasury exposure as the bitcoin trend changes.

Why people hold it

  1. 01Exposure is not fixed. The index moves between CME bitcoin futures and short-term Treasuries as bitcoin's trend changes.globalxetfs.com
  2. 02The signal comes from a published outside benchmark, the CoinDesk Bitcoin Trend Indicator Futures Index (BTIUSF), rather than a manager's discretion.
  3. 03Standard 1940 Act ETF plumbing with exchange-listed futures: a brokerage account, no wallet, no crypto exchange.
  4. 04The 0.95% expense ratio sits level with the largest bitcoin futures fund, BITO, and a shade under the cohort's typical fee.

Worth knowing

  1. 01Trend rules confirm turns after they happen. Sharp reversals can leave the fund positioned for the trend that just ended.
  2. 02Futures, not coins. Roll costs and futures pricing mean the ride can differ from bitcoin's spot move.
  3. 03Small and thinly traded, so spreads can be wide and limit orders matter. The track record starts in 2024.

BTRN Holdings

As of Sep 21, 2026, 6:07 PM
Asset class
Other
Holdings
3
Top-10 weight
100%
Largest holding
CLIP32.8%

Sectors

  • Financials100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001CLIPGLOBAL X 1-3 MONTH T-BILL32.76%4,610$462K5
002—CME BITCOIN FUT SEP2628.83%1$407K2
003—CASH24.02%338,779$339K414
004—CME MICRO BITCOIN SEP2614.41%25$203K1

Showing 1–4 of 4 holdings

BTRN Performance

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

BTRN$9,400
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. BTRN $9,400. SPY $11,723. Use the arrow keys to read each point.$7,966$10,004$12,043Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – 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 BTRN. Periods over one year show the average yearly return.
PeriodBTRN
Year to date+1.7%
1 month+7.2%
3 months+11.9%
1 year−6.0%
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 BTRN
YearReturn barBTRN
2026 YTD+1.7%
2025+4.9%
2024+6.8%

History from Mar 22, 2024

BTRN in the news

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

BTRN 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.
27.60%Last 12 months
Payout per share
$7.71Last 12 months
Last payment
$0.24 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Twice a year

Distribution history

2024–2026

One bar per payment. 5 payments from 2024 to 2026 YTD. Jun 27, 2024 $0.20; Dec 30, 2024 $0.66; Jun 27, 2025 $0.23; Dec 30, 2025 $7.46; Jun 29, 2026 $0.24. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Jun 29, 2026Jul 2, 2026$0.24
Dec 30, 2025Jan 7, 2026$7.46
Jun 27, 2025Jul 7, 2025$0.23
Dec 30, 2024Jan 7, 2025$0.66
Jun 27, 2024Jul 5, 2024$0.20

BTRN Risk

How much the fund’s monthly returns vary, scaled to a year.
33.6%
Annualised · 29 months to Aug 2026
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.
0.004
vs 3-month T-bills · 29 months to Aug 2026
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.
−37.0%
30 months · trough Aug 2024
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.
1.11
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.

BTRN Cost

Expense ratio0.95%
  • The middle half of Bitcoin Derivatives funds
  • Median 0.95%

2 of the 7 Bitcoin Derivatives funds charge less.

BTRN costs $95.00 a year on $10,000. The median Bitcoin Derivatives fund costs $95.00.