REX and Tuttle Capital Launch 2x Leveraged ETF Tied to Bitcoin Treasury Firm Strive

REX Shares and Tuttle Capital Management have introduced a new leveraged exchange‑traded fund that seeks to deliver 200% of the daily price movement of Strive, a publicly traded Bitcoin treasury company and asset manager.

Fund details

The product, named the T‑REX 2X Long ASST Daily Target ETF and listed under the ticker ASSX on Cboe, aims to provide twice the daily return of Strive’s share price before fees and expenses. The fund resets its leverage each trading day, meaning performance over longer periods may diverge from a simple 2x multiple of Strive’s price.

How the ETF differs from spot Bitcoin products

Unlike spot Bitcoin ETFs, ASSX does not hold Bitcoin directly and does not track Bitcoin’s price. Instead, it offers leveraged exposure to the equity of Strive, which itself holds a sizable Bitcoin position.

Strive’s Bitcoin holdings

Strive currently reports ownership of roughly 25,000 BTC, ranking it as the fifth‑largest publicly traded corporate Bitcoin holder according to BitcoinTreasuries.NET data. The latest acquisition of 469 BTC was financed through the issuance of its perpetual preferred stock, SATA.

Market reaction

On the day of the ETF’s debut, Strive’s shares closed at $30.09, up 6.4% from the previous close and slightly above the 12‑month average price target of $29.40 tracked by S&P Global analysts.

Other leveraged offerings

REX and Tuttle also plan to launch 2x leveraged ETFs linked to other crypto‑related companies, including Strategy, BitMine, Cipher Mining, Circle and SharpLink.