REX Shares Introduces Dual-Leverage ETF Tracking Bitcoin Treasury Company Strive
Traders gain access to 2x daily leveraged exposure through the newly launched ASSX fund, which tracks shares of the Bitcoin treasury-focused company Strive.
A new leveraged exchange-traded fund from REX Shares and Tuttle Capital Management has hit the market, designed to provide double the daily returns of Strive, a publicly listed Bitcoin treasury firm and asset management company.
Trading commenced on Friday for the T-REX 2X Long ASST Daily Target ETF, which carries the ticker symbol ASSX on the Cboe exchange and aims to produce 200% of Strive's daily stock price movements, calculated before accounting for fees and expenses.
The ETF employs a daily reset mechanism for its leverage ratio, which means that performance across timeframes extending beyond a single day of trading may vary substantially from double the returns of Strive's stock price. In contrast to spot Bitcoin ETFs, ASSX maintains no direct Bitcoin holdings and does not attempt to mirror Bitcoin's price movements, but rather delivers leveraged participation in Strive's stock performance.
As stated by REX and Tuttle, the companies additionally provide 2x ETFs that are connected to Strategy, BitMine, Cipher Mining, Circle and SharpLink.
Strive's current Bitcoin holdings total 25,000 Bitcoin, positioning the company as the fifth-largest publicly listed corporate entity holding Bitcoin, based on information from BitcoinTreasuries.NET data. The firm funded its most recent acquisition of 469-BTC using proceeds from SATA sales, which represents its perpetual preferred stock.
On Friday, Strive's stock price advanced 6.4% to settle at $30.09, marking a position just above the $29.40 average price target for the next 12 months established by analysts who are monitored by S&P Global.
