https://wccftech.com/wallstreetbets-vs-barclays-retail-traders-are-now-jumping-on-the-unmoored-ipath-series-b-sp-500-vix-short-term-futures-etn-vxx-to-create-an-explosive-upward-momentum/ > The iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX), an exchange-traded note that aims to closely track the price of the CBOE Volatility Index or VIX, appears to be gearing up for an explosive rally, amplified by retail traders banding together on the popular Reddit forum, WallStreetBets. > Before discussing the factors behind the ongoing bullish impulse in VXX, let’s take a quick refresher course. Exchange-Traded Notes or ETNs are complex financial instruments issued by a number of megabanks across the globe. These instruments are essentially a liability for the issuing bank, which creates synthetic ETN shares to allow investors the opportunity to gain exposure to a particular ETN. Barclays created VXX to closely track the price of the CBOE Volatility Index, colloquially known as the VIX. As investors purchase VXX shares, Barclays buys an equivalent position in the VIX futures. Presumably, the bank would also hedge its exposure to adverse price movements (more on this later on).