Bitcoin
REX and Tuttle Launch Leveraged ETF Tracking Bitcoin Treasury Firm Strive
A new fund listed on Cboe offers double daily leveraged exposure to shares of Strive, the fifth-largest corporate holder of Bitcoin.
REX Shares and Tuttle Capital Management have launched the T-REX 2X Long ASST Daily Target ETF on Cboe under the ticker ASSX. The fund aims to provide 200 percent of the daily share-price performance of Strive, an asset management and corporate Bitcoin treasury firm, before accounting for fees and expenses.
The exchange-traded fund resets its leverage on a daily basis and does not hold Bitcoin directly, meaning its returns over longer holding periods will diverge from simply doubling Strive's stock returns. The launch expands REX and Tuttle's suite of 2x leveraged products, which already includes funds linked to companies such as Strategy, BitMine, Cipher Mining, Circle, and SharpLink.
Strive currently holds 25,000 Bitcoin, ranking as the fifth-largest publicly traded corporate Bitcoin holder according to BitcoinTreasuries.NET data. The company recently funded an acquisition of 469 BTC through sales of its SATA perpetual preferred stock. Following the announcement, Strive's shares rose 6.4 percent on Friday to close at $30.09.
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