REX Shares Launches Leveraged ETF Tracking Strive Asset Management Stock
REX Shares has launched a new exchange-traded fund (ETF) that tracks the daily performance of Strive Asset Management stock. The T-REX 2X Long Strive Daily Target ETF, trading under ticker ASSX, aims to deliver 200% of the daily performance of Strive's shares.
The fund holds a significant portion of its value in Bitcoin, with Strive Asset Management holding 26,355 BTC on its balance sheet. This means that the fund's performance is sensitive to both the operating business and the market value of the company's Bitcoin treasury.
The T-REX 2X Long Strive Daily Target ETF is a leveraged single-stock ETF, which resets daily and trades as an exchange-traded product rather than a spot Bitcoin ETF. This means that investors are taking on additional risks associated with compounding, volatility, and single-stock concentration.
The launch of this fund is part of the growing trend of public companies adopting large crypto treasuries, leading to new financial products being created based on these equities.