REX Launches ASSX: 2x Leveraged ETF Tracking Bitcoin Treasury Firm Strive

REX Shares and Tuttle Capital Management have launched a new leveraged exchange-traded fund tied to Strive, the publicly traded Bitcoin treasury company. The T-REX 2X Long ASST Daily Target ETF began trading Friday on Cboe under the ticker ASSX, seeking to deliver 200% of Strive's daily share-price performance before fees and expenses. Because the fund resets its leverage on a daily basis, returns over multi-day holding periods can diverge significantly from twice the underlying stock's performance.

Unlike spot Bitcoin ETFs, ASSX does not hold BTC or track its price directly. Instead, it provides amplified equity exposure to Strive, which currently holds 25,000 Bitcoin and ranks as the fifth-largest publicly traded corporate Bitcoin holder according to BitcoinTreasuries.NET. Strive funded its latest 469 BTC purchase through sales of SATA, its perpetual preferred stock. The new fund joins a growing lineup of 2x ETFs from REX and Tuttle linked to other crypto-adjacent firms, including Strategy, BitMine, Cipher Mining, Circle, and SharpLink.

Strive shares rose 6.4% on Friday to close at $30.09, slightly above the $29.40 average 12-month price target tracked by S&P Global analysts. The launch of ASSX marks another milestone in the convergence of traditional ETF structures with companies whose valuations are increasingly tied to their Bitcoin holdings. Investors should note that leveraged ETFs are typically intended for short-term trading rather than long-term positioning, given the compounding effects of daily reset leverage.