Leveraged crypto-linked equity products are expanding as issuers target investor demand for amplified exposure to listed Bitcoin treasury companies. A new fund from REX Shares and Tuttle Capital Management begins trading Friday with returns tied to Strive’s daily stock performance rather than directly to Bitcoin.
Highlights
- REX Shares and Tuttle Capital Management launch the T-REX 2X Long ASST Daily Target ETF (ASSX) on Cboe to provide 200% daily exposure to Strive shares.
- ASSX offers leveraged exposure to Strive, which holds 25,000 Bitcoin, ranking as the fifth-largest publicly traded corporate Bitcoin holder.
- Strive shares gain 6.4% to close at $30.09 on Friday, exceeding the $29.40 average 12-month analyst price target tracked by S&P Global.
Fund structure and trading launch
As reported by Cointelegraph, citing Yahoo Finance, REX Shares and Tuttle Capital Management launch the T-REX 2X Long ASST Daily Target ETF, which starts 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. It resets leverage each day, meaning returns over periods longer than a single trading session can diverge significantly from twice the move in Strive shares.
Unlike spot Bitcoin ETFs, ASSX does not hold Bitcoin and does not aim to track the cryptocurrency’s price directly. Instead, it gives investors leveraged exposure to Strive, a publicly traded Bitcoin treasury company and asset manager.
According to REX and Tuttle, the firms also offer 2x ETFs tied to Strategy, BitMine, Cipher Mining, Circle and SharpLink.
Strive’s Bitcoin position and market context
Strive currently holds 25,000 Bitcoin, making it the fifth-largest publicly traded corporate Bitcoin holder, according to BitcoinTreasuries.NET data. The company funds its latest purchase of 469 Bitcoin through sales of SATA, its perpetual preferred stock.Strive shares rise 6.4% on Friday to close at $30.09. That is slightly above the $29.40 average 12-month price target tracked by analysts surveyed by S&P Global.
Our earlier article on the latest crypto rally highlighted a shift in market leadership as Layer-2 and DeFi tokens outperformed Bitcoin alongside improving risk appetite. It noted rising altcoin sentiment indicators and derivatives positioning that pointed to more structural inflows, even as Bitcoin’s gains were comparatively modest.
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