CoinShares Bitcoin Futures Leveraged Strategy ETF (BTFX) Stock Analysis
DELISTED 2025
What happened to CoinShares Bitcoin Futures Leveraged Strategy ETF (BTFX) stock?
CoinShares Bitcoin Futures Leveraged Strategy ETF (BTFX) no longer trades on public markets. It was delisted in December 2025. The figures below are historical and are not a current quote.
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
CoinShares Bitcoin Futures Leveraged Strategy ETF (BTFX) trades at $33.71. CoinShares Bitcoin Futures Leveraged Strategy ETF (BTFX) is a non-diversified fund seeking investment returns through Bitcoin futures contracts traded on the Chicago Mercantile Exchange. Market cap: $10.0M, Sector: Financial services.
Last analyzed: Mar 17, 2026Analyst Coverage for BTFX: BTFX does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates BTFX against Financial Services peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
CoinShares Bitcoin Futures Leveraged Strategy ETF (BTFX) Financial Services Profile
CoinShares Bitcoin Futures Leveraged Strategy ETF (BTFX) offers investors exposure to Bitcoin futures contracts through a leveraged strategy. The fund focuses on cash-settled Bitcoin futures traded on the Chicago Mercantile Exchange, differentiating itself through its leveraged approach within the asset management sector.
What Is the Investment Thesis for BTFX?
BTFX offers a unique investment proposition for those seeking leveraged exposure to Bitcoin futures. The fund's value is primarily driven by the performance of Bitcoin futures contracts traded on the CME. Potential catalysts include increased institutional adoption of Bitcoin, regulatory clarity surrounding cryptocurrencies, and growing investor demand for digital assets. However, the fund's leveraged strategy amplifies both gains and losses, making it highly volatile. Ongoing risks include regulatory uncertainty, market manipulation, and the inherent volatility of Bitcoin. With a beta of 4.34, BTFX is significantly more volatile than the broader market. Investors should carefully consider their risk tolerance and investment horizon before investing in BTFX.
Based on FMP financials and quantitative analysis
BTFX Key Highlights
BTFX provides leveraged exposure to Bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME).
- The fund is non-diversified, concentrating its investments in Bitcoin futures, which increases its sensitivity to Bitcoin price movements.
- BTFX uses cash, cash-like instruments, and high-quality securities as collateral for its Bitcoin futures positions.
- The fund's performance is closely tied to the price movements of Bitcoin futures contracts, aiming to provide a multiple of their daily return.
- BTFX's high beta of 4.34 indicates its significantly higher volatility compared to the overall market.
Who Are BTFX's Competitors?
BTFX is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| ADIV SmartETFs Asia Pacific Dividend Builder ETF | $19.84 | +1.25% | $14.9M | 44 |
| ASMG Leverage Shares 2X Long ASML Daily ETF | $47.85 | -0.25% | $34.7M | 44 |
| CANE Teucrium Sugar Fund | $11.19 | -0.44% | $18.9M | 50 |
| DECO State Street Galaxy Digital Asset Ecosystem ETF | $72.45 | +2.61% | $20.3M | — |
| DWSH AdvisorShares Dorsey Wright Short ETF | $5.47 | +0.55% | $10.2M | — |
| SKF ProShares - UltraShort Financials | $23.28 | +2.06% | $10.3M | 63 |
| ZVOL Volatility Shares Trust - Volatility Premium Plus ETF | $7.46 | -1.19% | $9.40M | 48 |
| PST ProShares - UltraShort 7-10 Year Treasury | $23.49 | +0.76% | $11.3M | 67 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are BTFX's Key Strengths?
Leveraged exposure to Bitcoin futures.
- Trades on major stock exchanges, providing liquidity.
- Access to regulated Bitcoin futures contracts on the CME.
- Transparent pricing and daily NAV calculation.
What Are BTFX's Weaknesses?
High volatility due to leveraged strategy.
- Non-diversified, concentrated in Bitcoin futures.
- Susceptible to regulatory uncertainty in the cryptocurrency market.
- High beta of 4.34 indicates significant market risk.
What Could Drive BTFX Stock Higher?
BTFX catalyst: Potential regulatory approval of Bitcoin ETFs could drive increased demand for Bitcoin futures and, consequently, BTFX.
- Growing institutional interest in cryptocurrency investments may lead to higher trading volumes in Bitcoin futures.
- Continued development and adoption of blockchain technology could positively impact the long-term outlook for Bitcoin and its futures market.
What Are the Key Risks for BTFX?
Regulatory changes could negatively impact the trading of Bitcoin futures.
- The price of Bitcoin futures is highly volatile and subject to significant fluctuations.
- The leveraged nature of BTFX amplifies both gains and losses, increasing investment risk.
- Market manipulation in the Bitcoin futures market could negatively impact BTFX's performance.
What Are the Growth Opportunities for BTFX?
- Increased Institutional Adoption of Bitcoin Futures: As institutional investors become more comfortable with Bitcoin and other cryptocurrencies, demand for Bitcoin futures contracts is likely to increase. This could drive higher trading volumes and potentially higher prices for Bitcoin futures, benefiting BTFX. The market size for institutional investment in digital assets is estimated to reach $1 trillion by 2028, providing a significant growth opportunity for BTFX. Timeline: Ongoing.
- Regulatory Clarity for Cryptocurrency Markets: Clear and consistent regulations for cryptocurrency markets could reduce uncertainty and attract more investors to Bitcoin futures. This could lead to increased demand for BTFX as a regulated and accessible way to gain exposure to Bitcoin. The regulatory landscape for cryptocurrencies is evolving rapidly, with potential for significant developments in the next 1-3 years. Timeline: Upcoming.
- Expansion of Bitcoin Futures Trading Venues: The introduction of Bitcoin futures trading on additional regulated exchanges could increase liquidity and accessibility, potentially benefiting BTFX. Increased competition among exchanges could also lead to lower trading fees, further enhancing the attractiveness of Bitcoin futures. Several exchanges are exploring the possibility of listing Bitcoin futures contracts, with potential launches in the next 1-2 years. Timeline: Upcoming.
- Development of New Bitcoin Futures Products: The creation of new Bitcoin futures products, such as options or micro-futures, could attract a wider range of investors and increase trading volumes. This could benefit BTFX by providing more opportunities to generate returns. Several exchanges are actively developing new cryptocurrency derivatives products, with potential launches in the next 6-12 months. Timeline: Upcoming.
- Growing Investor Demand for Leveraged Cryptocurrency Products: As investors become more familiar with cryptocurrencies, demand for leveraged products like BTFX is likely to increase. Leveraged ETFs can provide investors with the opportunity to amplify their returns, but also carry higher risks. The market for leveraged ETFs is growing rapidly, with potential for significant expansion in the cryptocurrency space over the next 3-5 years. Timeline: Ongoing.
What Threats Does BTFX Face?
- Regulatory crackdown on cryptocurrency trading.
- Market manipulation in Bitcoin futures.
- Increased competition from other cryptocurrency investment products.
- Significant price declines in Bitcoin.
What Are BTFX's Competitive Advantages?
- First-mover advantage in offering a leveraged Bitcoin futures ETF.
- Access to Bitcoin futures contracts traded on the regulated Chicago Mercantile Exchange (CME).
- Expertise in managing leveraged cryptocurrency investment products.
What Does BTFX Do?
CoinShares Bitcoin Futures Leveraged Strategy ETF (BTFX) is an exchange-traded fund (ETF) designed to provide investors with leveraged exposure to the Bitcoin market. The fund achieves its investment objective by primarily investing in cash-settled Bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME), a regulated exchange under the Commodity Futures Trading Commission (CFTC). BTFX also holds cash, cash-like instruments, and high-quality securities to serve as collateral for its futures positions. BTFX's strategy involves using leverage, which can magnify both gains and losses compared to a direct investment in Bitcoin. The fund is non-diversified, meaning it concentrates its investments in Bitcoin futures, making it more susceptible to market fluctuations in the price of Bitcoin. The fund's performance is closely tied to the price movements of Bitcoin futures contracts, and it aims to provide a multiple of the daily return of these contracts. This leveraged approach is designed for sophisticated investors who understand the risks associated with futures trading and leverage. As an ETF, BTFX offers investors a convenient and liquid way to gain exposure to Bitcoin futures without directly holding or managing the underlying cryptocurrency. Shares of BTFX trade on major stock exchanges, providing intraday liquidity and transparency. The fund's net asset value (NAV) is calculated daily, reflecting the value of its Bitcoin futures contracts and other assets. BTFX is managed by a team of investment professionals who monitor the market and adjust the fund's positions to achieve its investment objective.
What Products and Services Does BTFX Offer?
- Invests primarily in cash-settled Bitcoin Futures Contracts traded on the Chicago Mercantile Exchange (CME).
- Utilizes cash, cash-like instruments, and high-quality securities as collateral for Bitcoin Futures Contracts.
- Seeks to provide leveraged exposure to the Bitcoin market.
- Offers investors a convenient and liquid way to gain exposure to Bitcoin futures without directly holding cryptocurrency.
- Trades on major stock exchanges, providing intraday liquidity and transparency.
- Calculates its net asset value (NAV) daily, reflecting the value of its Bitcoin futures contracts and other assets.
How Does BTFX Make Money?
- Generates returns through the performance of Bitcoin futures contracts.
- Uses a leveraged strategy to amplify returns (and losses).
- Collects management fees from investors based on the fund's assets under management (AUM).
What Industry Does BTFX Operate In?
BTFX operates within the asset management industry, specifically in the niche of leveraged cryptocurrency ETFs. The market for cryptocurrency investment products has grown rapidly in recent years, driven by increasing investor interest in digital assets. However, the industry is also characterized by high volatility and regulatory uncertainty. BTFX competes with other ETFs and investment vehicles that offer exposure to Bitcoin and other cryptocurrencies. The fund's leveraged strategy differentiates it from traditional Bitcoin ETFs, but also introduces additional risks. The growth of the cryptocurrency market is expected to continue, but regulatory developments and market sentiment will play a crucial role in shaping the industry's future.
Who Are BTFX's Key Customers?
- Retail investors seeking exposure to Bitcoin futures.
- Sophisticated investors who understand the risks associated with futures trading and leverage.
- Institutional investors looking for a regulated and accessible way to invest in Bitcoin.
BTFX Valuation & Market Position
With a $10.0M market cap, CoinShares Bitcoin Futures Leveraged Strategy ETF sits in the micro-cap segment of the market.
Key Financial Metrics
Return on equity for CoinShares Bitcoin Futures Leveraged Strategy ETF stands at 0.0%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 0.0%, showing how much profit it generates from its asset base. BTFX trades at a trailing price-to-earnings ratio of 0.00, below the Financial Services sector average of ~18x. Its free cash flow yield is 0.0%, a gauge of the cash the business throws off relative to its market value. A current ratio of 0.00 means current liabilities exceed short-term assets, a liquidity point worth watching. Its earnings yield is 0.0%, the inverse of the P/E and a quick read on earnings relative to price.
BTFX Financials
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in CoinShares' strategy, signaling potential upside.
- The ETF's focus on Bitcoin futures positions it to benefit from any positive regulatory developments in the crypto space.
- Community sentiment reflects growing interest in leveraged Bitcoin products, potentially driving demand for BTFX.
- Market perception sees Bitcoin as a hedge against inflation, which could attract investors to Bitcoin-related ETFs like BTFX.
Bear Case
- Negative community sentiment indicates concerns about the risks associated with leveraged Bitcoin futures.
- Recent market volatility in Bitcoin could amplify losses in a leveraged ETF like BTFX.
- Insider selling, even if for personal reasons, can create negative sentiment around the ETF.
- Market perception of Bitcoin as a speculative asset could lead to rapid sell-offs in BTFX during downturns.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
BTFX Latest News
No recent news available for BTFX.
Common Questions About BTFX (Financial Services)
What happened to CoinShares Bitcoin Futures Leveraged Strategy ETF (BTFX) stock?
CoinShares Bitcoin Futures Leveraged Strategy ETF (BTFX) no longer trades on public markets. It was delisted in December 2025. The figures below are historical and are not a current quote.
Can I still buy BTFX shares?
No. BTFX stopped trading on public markets in December 2025, so the shares are not available through a broker. Anything you see quoted for BTFX elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before BTFX stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to CoinShares Bitcoin Futures Leveraged Strategy ETF. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does CoinShares Bitcoin Futures Leveraged Strategy ETF do?
CoinShares Bitcoin Futures Leveraged Strategy ETF (BTFX) is designed to provide investors with leveraged exposure to the Bitcoin market. It achieves this by primarily investing in cash-settled Bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME). The fund uses a leveraged strategy, which aims to amplify the daily returns of Bitcoin futures.
What are the main risks for BTFX?
The primary risks associated with BTFX stem from its leveraged strategy and concentration in Bitcoin futures. The leveraged nature of the fund amplifies both gains and losses, making it highly volatile. Bitcoin futures are also subject to significant price fluctuations, which can impact the fund's performance.
How is CoinShares Bitcoin Futures Leveraged Strategy ETF adapting to fintech disruption?
CoinShares Bitcoin Futures Leveraged Strategy ETF is adapting to fintech disruption by providing a regulated and accessible way for investors to gain exposure to Bitcoin futures. As a traditional ETF, BTFX offers a familiar investment structure that appeals to investors who may be hesitant to directly hold or trade cryptocurrencies.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- The information provided is based on available data and is subject to change.
- Investment decisions should be made based on individual risk tolerance and financial circumstances.
- This is not financial advice.