$BITX vs $FBTC: Contrasting Leveraged Bitcoin Futures and Spot Exposure Strategies The 2x Bitcoin Strategy ETF (BITX) delivers leveraged daily exposure to bitcoin futures with a target of twice the daily performance of bitcoin, while the Fidelity Wise Origin Bitcoin Fund (FBTC) provides unleveraged spot bitcoin exposure through direct holdings. BITX carries a notably higher expense ratio of about 2.75% compared to FBTC’s 0.25%, due to the costs associated with futures-based leverage and ongoing rebalancing.