REX Shares and Tuttle Capital Management have launched a leveraged exchange-traded fund designed to deliver twice the daily performance of Strive, a publicly traded Bitcoin treasury company and asset manager. The T-REX 2X Long ASST Daily Target ETF began trading Friday on Cboe under the ticker ASSX.
The fund seeks to provide 200% of Strive’s daily share-price performance before fees and expenses. Leverage resets each day, meaning returns over periods longer than a single trading session can deviate significantly from twice the underlying stock’s performance.
Unlike spot Bitcoin ETFs, ASSX does not hold Bitcoin or attempt to track its price. Instead, it offers leveraged exposure to Strive shares directly.
According to REX and Tuttle, the firms also manage 2x leveraged ETFs tied to Strategy, BitMine, Cipher Mining, Circle and SharpLink.
Strive currently holds 25,000 Bitcoin, making it the fifth-largest publicly traded corporate Bitcoin holder, according to data from BitcoinTreasuries.NET. The company financed its most recent purchase of 469 BTC through sales of SATA, its perpetual preferred stock.
Strive shares rose 6.4% on Friday to close at $30.09, slightly above the $29.40 average 12-month price target among analysts tracked by S&P Global, based on Yahoo Finance data.
