-79.7% a year. That is the average annual return of the ProShares Ultra VIX ETF since 2011 (StockAnalysis, 13 Oct close). Today at 12:00 UTC it started trading on Binance Spot as $UVXYB .
What it is: 1.5x daily exposure to short-term VIX futures. When markets panic, it jumps. The rest of the time it bleeds, because the fund rolls futures every day and the roll usually costs money. One-year return: -74%.
What is new here: $UVXYB trades 24/7, while the ETF underneath it trades only in US market hours. From Friday close to Monday open, the token price has nothing to anchor to except what Binance traders agree on.
First three hours on Binance: about 1,250 trades and $74K traded, range 15.73 to 16.28, last 16.16 (Binance, 14 Oct, 15:16 UTC). bStocks are not shares, carry no voting rights, and are not open to US persons.
A product built for days, now listed on a venue that never closes. Who is this for?
#UVXYB #BStocks #Binance #NewListing
What it is: 1.5x daily exposure to short-term VIX futures. When markets panic, it jumps. The rest of the time it bleeds, because the fund rolls futures every day and the roll usually costs money. One-year return: -74%.
What is new here: $UVXYB trades 24/7, while the ETF underneath it trades only in US market hours. From Friday close to Monday open, the token price has nothing to anchor to except what Binance traders agree on.
First three hours on Binance: about 1,250 trades and $74K traded, range 15.73 to 16.28, last 16.16 (Binance, 14 Oct, 15:16 UTC). bStocks are not shares, carry no voting rights, and are not open to US persons.
A product built for days, now listed on a venue that never closes. Who is this for?
#UVXYB #BStocks #Binance #NewListing