REX launches 2x leveraged ETF linked to Bitcoin treasury firm Strive
REX Shares and Tuttle Capital Management have introduced a new 2x leveraged ETF that aims to provide twice the daily performance of Strive, a publicly traded Bitcoin treasury firm and asset manager. The ETF, trading under ticker ASSX on Cboe, offers investors leveraged exposure to Strive’s stock performance on a daily reset basis.
Features and Mechanics of ASSX ETF
The T-REX 2X Long ASST Daily Target ETF, trading under the ticker ASSX, launched Friday on Cboe. It aims to deliver 200% of Strive’s daily share price performance before fees and expenses.
This fund resets its leverage daily, meaning returns for periods longer than one trading day can significantly differ from twice Strive’s stock performance. Unlike spot Bitcoin ETFs, ASSX neither holds Bitcoin nor attempts to track its price; instead, it provides leveraged exposure specifically to Strive shares.
Strive’s Market Position and Context
Strive holds 25,000 Bitcoins, ranking it as the fifth-largest publicly traded corporate Bitcoin holder according to BitcoinTreasuries.NET.
The company’s latest acquisition of 469 BTC was funded via sales of SATA, its perpetual preferred stock.
Strive shares rose 6.4% on Friday, closing at $30.09, slightly above the $29.40 average 12-month price target among analysts tracked by S&P Global.
REX and Tuttle also offer 2x ETFs linked to other blockchain sector companies such as Strategy, BitMine, Cipher Mining, Circle, and SharpLink.
Why it matters
The launch of a 2x leveraged ETF tied to a major Bitcoin-holding company offers investors a way to gain amplified exposure to the performance of a leading publicly traded Bitcoin company without directly buying cryptocurrency. This expands available tools in the market, enabling participants to seek returns via company shares with Bitcoin assets and leverage, while avoiding the storage complexities and price volatility of Bitcoin itself.
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