Can anyone please tell me why I’ve never heard of BITX in the hundreds if not thousands of hours of Bitcoin podcasts I’ve listened to or in any of the books I’ve read? Is there a “gotcha” that I’m missing with it?

It seems like a 2x leveraged Bitcoin play would be of interest to at least someone in the space. I know the fees are high but 1.9% on 2x Bitcoin returns seems negligible.

To be clear, I’m not suggesting this as an alternative to holding real BTC or even to holding MSTR or regular ETFs. This would probably only make sense to use in certain situations, short term, and in managed amounts.

I’m just a little confused that I’d never even heard it mentioned in passing before I found it by chance myself last week. What am I missing?