A Turbocharged Bitcoin ETF Is More Popular Than TSMC in Korea
- South Koreans have poured $122 million into BITX in March
- It is the fifth most bought foreign security this month
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A risky exchange-traded fund in the US that aims to deliver twice the daily performance of short-term CME Bitcoin futures is seeing strong demand from Korean investors.
The VolatilityShares’ 2X Bitcoin Strategy ETF — ticker BITX — aims to generate exceptionally high returns, thanks to an effect known as “leverage compounding.” On the flip side, it suffers from “volatility drag” which may hurt investors over the long term.