REX Shares, an exchange-traded fund specialist, and Tuttle Capital Management introduced a new leveraged exchange-traded fund (ETF), aiming to deliver twice the daily performance of Strive, which is a publicly traded Bitcoin treasury and asset management company.
Launch of the T-REX 2X Long ASST Daily Target ETF
The T-REX 2X Long ASST Daily Target ETF began trading under the ticker ASSX on Friday on the Cboe exchange. The fund is designed to achieve 200% of Strive’s daily share-price returns before accounting for fees and expenses. To accomplish this, the ETF resets its leverage at the start of each trading day, which means that cumulative returns over longer periods may diverge substantially from double the performance of Strive shares.
Unlike spot Bitcoin ETFs, ASSX does not directly hold Bitcoin or aim to follow Bitcoin price movements. Instead, the fund provides investors with leveraged exposure to Strive shares, offering a different approach to participating in the broader Bitcoin ecosystem by focusing on equities rather than digital assets themselves.
Mini dictionary: Strive is a publicly traded company that manages Bitcoin as a central part of its treasury, making it one of the leading corporate holders of Bitcoin worldwide. Rather than holding Bitcoin directly, investing in Strive shares allows exposure to the company’s strategies and financial performance related to its cryptocurrency assets.
Comparing ETF Options from REX and Tuttle
Company representatives stated that, in addition to the new ASSX fund, REX Shares and Tuttle Capital also offer leveraged 2x ETFs connected to other publicly traded entities with exposure to the cryptocurrency and blockchain sector, including firms like Strategy, BitMine, Cipher Mining, Circle, and SharpLink. This range aims to provide investors with a selection of leveraged products tied to different crypto-focused companies.
| ETF | Underlying Company | Leverage | Sector |
|---|---|---|---|
| ASSX | Strive | 2x Daily | Bitcoin Treasury |
| 2x Strategy ETF | Strategy | 2x Daily | Digital Asset Holding |
| 2x BitMine ETF | BitMine | 2x Daily | Mining |
| 2x Cipher Mining ETF | Cipher Mining | 2x Daily | Mining |
| 2x Circle ETF | Circle | 2x Daily | Payments |
| 2x SharpLink ETF | SharpLink | 2x Daily | Digital Platforms |
Strive’s Bitcoin Holdings and Recent Activity
Strive currently holds 25,000 Bitcoin, making it the fifth-largest corporate Bitcoin holder trading on public markets, according to data from BitcoinTreasuries.NET. The firm recently expanded its Bitcoin reserves by acquiring 469 more BTC, a purchase financed through sales of SATA, its perpetual preferred stock offering.
Strive’s stock closed up 6.4% on Friday at $30.09. This price sits modestly above the 12-month average price target of $29.40 established by analysts and reported by S&P Global.
Strive solidified its position as the fifth-largest publicly traded Bitcoin corporate holder, following its latest purchase of 469 BTC financed via SATA preferred stock sales.
