Strive-Based ETF Offers 200% Leverage to Traders

REX Shares and Tuttle Capital Management have introduced a new fund that allows traders to bet on double the daily moves of Strive, one of the largest public companies stacking Bitcoin on its balance sheet. The T-REX 2X Long ASST Daily Target ETF, ticker ASSX, began trading on Cboe on September 18 and targets 200% of the daily performance of Strive's Nasdaq-listed stock (ASST), not Bitcoin itself.

The fund carries a 1.5% total expense ratio, with Tuttle Capital Management as adviser and REX Shares as sponsor. REX warns that a single-day adverse move of more than 50% in ASST could wipe out an investor's entire principal.

Strive's latest SEC filing shows the company holding 25,000 BTC after buying 469 Bitcoin between September 8 and 11 at an average price of $77,954 per coin. The company has turned increasingly to SATA sales as a way to fund its Bitcoin acquisitions, an approach designed to grow the treasury while limiting dilution for common shareholders.