REX Launches 2x Leveraged ETF for Strive's Stock
REX Shares and Tuttle Capital Management have launched a new exchange-traded fund (ETF) called ASSX, which offers traders a leveraged way to invest in Strive's stock. The T-REX 2X Long ASST Daily Target ETF provides daily 2x exposure to Strive's stock, making it possible for investors to potentially double their returns.
The fund resets its leverage daily and does not hold Bitcoin directly. Instead, it uses a derivative product that tracks the price of Strive's stock. This is one of several 2x ETFs being launched by REX and Tuttle, which also include funds related to Strategy, BitMine, Cipher Mining, Circle, and SharpLink.
Strive holds 25,000 Bitcoins, making it the fifth largest publicly traded company holding Bitcoin in the world. The company's stock price rose by 6.4% on Friday to $30.09, which could be an opportunity for investors looking to ride the momentum with a leveraged ETF.