REX Launches Leveraged ETF for Bitcoin Vault Company Strive

REX Shares and Tuttle Capital Management have launched the T-REX 2X Long ASST Daily Target ETF, which began trading on Friday at the Cboe exchange under the ticker code ASSX.

The fund aims to provide a leveraged bet against Strive, a Bitcoin vault company that holds around 25,000 Bitcoins, making it the fifth-largest publicly traded holder of the cryptocurrency. The fund does not hold any Bitcoin or track its price but instead offers a leveraged exposure to Strive's stock price.

Unlike traditional Bitcoin ETFs, which hold the underlying asset, ASSX resets its leverage daily, meaning that returns over more than one trading day may significantly differ from Strive's stock performance. REX and Tuttle also launched 2x leveraged ETFs related to other companies: Strategy, BitMine, Cipher Mining, Circle, and SharpLink.