Apr. 2 at 8:59 PM
$SPY $BTC.X
$ETH.X
$ETHT
Contango is when futures prices are higher than the current price of ETH.
A 2× ETF like ETHT must keep rolling futures every month, which forces it to:
Sell the cheaper, expiring contract
Buy the more expensive, next‑month contract
This creates a built‑in loss called roll decay.
Because ETHT is 2× leveraged, that loss is doubled.
Example (Simple & Clear)
ETH spot price:
$3,000
Next‑month ETH futures:
$3,150 (contango)
When ETHT rolls its futures:
It sells at
$3,000
It buys at
$3,150
→
$150 loss just from rolling
