The first U.S. leveraged cryptocurrency ETF has been on the market for three days and has underperformed expectations. On June 27, the “2x Bitcoin Strategy ETF” (2x leveraged Bitcoin Strategy ETF) issued by Volatility Shares, an American ETF issuer, was officially launched on CBOE’s BZX exchange and started trading. On the first day of listing, 110,000 shares were issued at an issue price of US$15, with a net asset value of US$1.65 million, and first-day trading volume reached US$5.5 million. However, over the next two trading days, the ETF's trading volume plummeted to less than $300,000 in a single day.

This leveraged ETF has the same benchmark index as the previously issued Bitcoin futures ETF, which is futures data. However, due to the lack of bright spots in homogeneous products, coupled with higher management fees and the failure cases of leveraged ETFs sounding the alarm, the size of the leveraged ETF market may not grow much this time.