REX Shares and Tuttle Capital Management launched a leveraged ETF that seeks to deliver twice the daily performance of Strive, a publicly traded Bitcoin treasury company and asset manager.
The T-REX 2X Long ASST Daily Target ETF began trading Friday under the ticker ASSX on Cboe and seeks to deliver 200% of Strive’s daily share-price performance before fees and expenses.
The fund resets its leverage daily, meaning returns over periods longer than one trading day can differ significantly from twice the performance of Strive shares. Unlike spot Bitcoin ETFs, ASSX does not hold Bitcoin or seek to track its price, instead providing leveraged exposure to Strive shares.
According to REX and Tuttle, the firms also offer 2x ETFs linked to Strategy, BitMine, Cipher Mining, Circle and SharpLink.
Strive currently holds 25,000 Bitcoin, making it the fifth-largest publicly traded corporate Bitcoin holder, according to BitcoinTreasuries.NET data. The company financed its latest 469-BTC purchase through sales of SATA, its perpetual preferred stock.
Strive shares rose 6.4% on Friday to close at $30.09, slightly above the $29.40 average 12-month price target among analysts tracked by S&P Global.
Source: Yahoo Finance
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