REX Launches Leveraged ETF Linked to Publicly Traded Bitcoin Firm Strive
REX Shares and Tuttle Capital Management have introduced a new leveraged ETF called T-REX 2X Long ASST Daily Target, which seeks to deliver twice the daily performance of Strive, a publicly traded Bitcoin treasury company and asset manager.
The fund began trading on Friday under the ticker ASSX on Cboe. It resets its leverage daily, meaning returns over periods longer than one trading day can differ significantly from twice the performance of Strive shares.
Unlike spot Bitcoin ETFs, ASSX does not hold Bitcoin or seek to track its price; instead, it provides leveraged exposure to Strive shares. REX and Tuttle also offer 2x ETFs linked to Strategy, BitMine, Cipher Mining, Circle, and SharpLink.
Strive currently holds 25,000 BTC, making it the fifth-largest publicly traded corporate Bitcoin holder, according to data from BitcoinTreasuries.NET. The company financed its latest 469-BTC purchase through sales of SATA, its perpetual preferred stock.