REX Shares Launches 2x Leveraged ETF Tied to Strive Asset Management
REX Shares has launched the T-REX 2X Long Strive Daily Target ETF, trading under ticker ASSX. The fund aims to deliver 200% of the daily performance of Strive Asset Management shares.
ASSX is a leveraged single-stock ETF that tracks the equity of Strive, which holds a significant amount of Bitcoin in its treasury. With 26,355 BTC on its balance sheet, Strive's equity is sensitive to both its operating business and the market value of its Bitcoin holdings.
The fund adds daily leverage to this exposure, making it distinct from owning Bitcoin directly or holding a spot Bitcoin ETF. The 2x objective resets daily, but over longer periods, compounding and volatility can cause returns to diverge significantly.
This new product is an example of the growing trend of companies with large crypto treasuries spawning financial products based on their equities.