REX Shares and Tuttle Capital Management launched a 2x leveraged ETF tracking Strive, a publicly traded Bitcoin treasury company. The fund, ticker ASSX, began trading Friday on Cboe as Strive shares rose 6.4% to close at $30.09.
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.
ASSX seeks to deliver 200% of Strive's daily share-price performance before fees and expenses. The fund resets its leverage daily, so returns over periods longer than one trading day can differ significantly from twice the performance of Strive shares. Unlike a spot Bitcoin ETF, ASSX does not hold Bitcoin or seek to track its price — it provides leveraged exposure to Strive shares instead.
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: Cointelegraph.com News
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