REX and Tuttle Launch 2x Daily Strive ETF (ASSX) on Cboe

REX Shares and Tuttle Capital Management introduced ASSX, a Cboe‑listed exchange‑traded fund that began trading on September 18. The fund aims to deliver twice the daily price movement of Strive Inc.’s common stock (ticker ASST) before fees and expenses.

Fund Mechanics and Risks

ASSX targets 200% of ASST’s daily performance and resets its leverage at the end of each trading session. The fund uses derivatives, including swap agreements, to achieve the leveraged exposure. Because leverage is reset daily, compounding can cause longer‑term returns to diverge from a simple 2× multiple of the stock’s cumulative return. A 1% decline in ASST could translate to roughly a 2% loss in the fund before financing costs, and a move of more than 50% in a single day could wipe out an investor’s principal.

Listing Details

The Cboe listed ASSX under ticker “ASSX” on September 18, following a certification filing with the SEC on September 15. The fund carries a total expense ratio of 1.5% and lists Tuttle Capital Management as adviser with REX Shares as sponsor.

Initial Trading Activity

On its debut, ASSX opened at $27.78, closed at $28.27, and traded between $27.22 and $28.70. Volume reached 123,946 shares, and after‑hours trading showed a price of $28.71. Strive’s own shares closed the same day at $30.09, up 6.4%.

Strive’s Bitcoin Treasury

Separately, Strive reported holding 25,000 Bitcoin after purchasing 469 BTC at an average price of $77,954 per coin. The Bitcoin holdings are part of Strive’s corporate treasury and are not directly linked to the ASSX fund’s performance.

Investor Guidance

REX emphasizes that ASSX is intended for knowledgeable investors who monitor positions frequently. The fund does not provide voting rights or dividends associated with ASST shares, and multi‑day holding periods can produce results that differ significantly from the stated 2× objective.