T-REX ETF Lets Investors Double Down on Strive's Bitcoin Holdings
A new exchange-traded fund (ETF) called T-REX 2X Long ASST Daily Target ETF began trading on Friday, giving investors a way to place a doubled bet on Strive's common stock. The ETF, listed on Cboe under the ticker ASSX, is sponsored by REX Shares and Tuttle Capital Management.
The fund seeks to deliver 200% of the daily performance of Strive's common stock before fees and expenses. Strive has built its corporate identity around accumulating Bitcoin on its balance sheet, currently holding 25,000 BTC and ranking among the five largest publicly traded corporate holders of the cryptocurrency.
The T-REX ETF does not hold Bitcoin directly and does not attempt to deliver twice Bitcoin's daily return. Instead, it tracks Strive's equity, which itself is influenced by Bitcoin prices, the valuation investors assign to the company's treasury holdings, and Strive's ability to raise capital to continue acquiring BTC.