REX launches 2x ETF tied to Bitcoin firm Strive

REX Shares and Tuttle Capital Management launched the T-REX 2X Long ASST Daily Target ETF, which began trading Friday on Cboe under the ticker ASSX. The fund seeks to deliver 200% of Strive's daily share-price performance before fees and expenses. Its leverage resets daily, so returns over periods longer than one trading day can differ significantly from twice the performance of Strive shares. ASSX does not hold Bitcoin or seek to track its price, unlike spot Bitcoin ETFs. It instead provides leveraged exposure to Strive shares. REX and Tuttle said they also offer 2x ETFs linked to Strategy, BitMine, Cipher Mining, Circle and SharpLink. Strive currently holds 25,000 Bitcoin, according to BitcoinTreasuries.NET data, which ranks it as the fifth-largest publicly traded corporate Bitcoin holder. Strive financed its latest purchase of 469 Bitcoin through sales of SATA, its perpetual preferred stock. Strive shares rose 6.4% on Friday to close at $30.09. The stock closed slightly above the $29.40 average 12-month price target among analysts tracked by S&P Global.