REX Shares and Tuttle Capital Management have introduced a new leveraged exchange-traded fund, the T-REX 2X Long ASST Daily Target ETF. The fund, which trades on Cboe under the ticker ASSX, aims to provide 200% of the daily share-price performance of Strive, a publicly traded asset manager and Bitcoin treasury company.
The ETF resets its leverage on a daily basis, which means performance over longer periods may deviate from the target. Unlike spot Bitcoin ETFs, the ASSX fund does not track the price of Bitcoin or hold the asset directly. It is designed specifically to offer leveraged exposure to Strive equity.
Strive currently holds 25 000 Bitcoin, ranking as the fifth-largest corporate holder of the cryptocurrency. The company recently acquired 469 BTC, funding the purchase through the sale of its perpetual preferred stock, SATA. Strive shares closed at $30.09 on Friday, marking a 6.4% increase.
The launch of ASSX expands the existing lineup of 2x leveraged ETFs from REX and Tuttle. The firms already provide similar products linked to the performance of Strategy, BitMine, Cipher Mining, Circle, and SharpLink.
