REX launches 2x leveraged ETF tied to Bitcoin treasury firm Strive
The new ASSX fund offers 2x daily exposure to Strive shares, giving traders a leveraged way to bet on the Bitcoin treasury company.
REX Shares and Tuttle Capital Management have introduced a new leveraged ETF on the ASSX exchange, known as the T-REX 2X Long ASST Daily Target ETF. This fund aims to provide double the daily performance of Strive, a Bitcoin treasury company. The ticker ASSX will be used to trade this ETF on Cboe. The T-REX fund seeks to generate 200% of Strive's daily share-price performance, but it is important to note that returns over periods longer than one trading day may vary significantly from twice the performance of Strive shares due to the daily resetting of leverage.
Strive, currently the fifth-largest publicly traded corporate Bitcoin holder with a 25,000 Bitcoin portfolio, financed its latest acquisition of 469 BTC through sales of SATA, its perpetual preferred stock. Strive's shares increased by 6.4% on Friday, closing at $30.09, which is slightly above the average 12-month price target of $29.40 among analyst recommendations.
This 2x leveraged ETF is not unique to Strive; REX Shares and Tuttle Capital Management also offer similar products linked to other Bitcoin treasury companies such as Strategy, BitMine, Cipher Mining, Circle, and SharpLink.
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