REX Launches 2x Leveraged ETF Linked to Bitcoin Treasury Firm Strive
REX Shares and Tuttle Capital Management have launched a new 2x leveraged ETF designed to provide double the daily performance of shares in Strive, a publicly traded Bitcoin treasury and asset management company. Trading under the ticker ASSX on Cboe, the fund offers investors leveraged exposure to Strive shares without holding Bitcoin or tracking its price.
ETF Features and Trading Details
The ETF named T-REX 2X Long ASST Daily Target ETF commenced trading on Friday on the Cboe exchange under ticker ASSX. It aims to deliver 200% of the daily share-price movement of Strive before fees and expenses.
The fund resets its leverage daily, meaning returns over periods longer than one trading day may deviate significantly from twice Strive’s stock performance. Unlike spot Bitcoin ETFs, ASSX does not hold Bitcoin nor track its price, but rather offers leveraged exposure to Strive shares.
Market Context and Strive's Position
Strive is a publicly traded Bitcoin treasury and asset management company holding 25,000 Bitcoin, ranking as the fifth-largest publicly traded corporate Bitcoin holder according to BitcoinTreasuries.NET data.
The company recently financed its purchase of 469 BTC through sales of its perpetual preferred stock, SATA.
On Friday, Strive shares rose 6.4% to close at $30.09, slightly above the $29.40 average 12-month price target from analysts tracked by S&P Global.
REX and Tuttle also offer 2x ETFs linked to other firms including Strategy, BitMine, Cipher Mining, Circle, and SharpLink.
Why it matters
The launch of a 2x leveraged ETF focused on Strive offers investors a tool for double exposure to the daily price movements of a major public Bitcoin treasury player. This expands asset management options in the cryptocurrency infrastructure sector without requiring direct Bitcoin holdings, potentially attracting a broader range of institutional and retail investors.
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