REX launches 2X ETF tracking Bitcoin-focused Strive
- REX Shares has launched ASSX, a leveraged ETF offering 200% of Strive's daily share performance.
- The fund began trading on Cboe on September 18 under the ticker ASSX.
- ASSX does not track Bitcoin directly, despite Strive's Bitcoin treasury strategy.
REX Shares has launched the T-REX 2X Long ASST Daily Target ETF, which targets 200% of Strive's daily share performance before fees and expenses.
The ETF began trading on Cboe on September 18 and resets its leverage daily, with a stated objective based on a single trading day.
“ASSX is the first ETF in the U.S. offering 2x daily long exposure to ASST,” said Scott Acheychek, COO of REX.
Strive (NASDAQ:ASST) operates a Bitcoin-focused treasury strategy, but ASSX does not hold Bitcoin or seek to deliver twice Bitcoin's daily performance.
Strive held 24,531 Bitcoin (CRYPTO:BTC) as of September 4, according to a September 8 Form 8-K cited in the launch announcement.
The daily reset means ASSX returns over periods longer than one trading day can differ significantly from twice the change in ASST over the same period.
The fund is designed for investors who understand daily leveraged products and can monitor their positions frequently.
At the time of reporting, Bitcoin price was $81,345.95.
