REX launches 2x leveraged Strive Bitcoin ETF

Published: 2026-09-19 19:44:32 |

REX Shares and Tuttle Capital Management launched the T-REX 2X Long ASST Daily Target ETF, trading under the ticker ASSX on Cboe. The leveraged ETF targets twice Strive’s daily share-price performance before fees and expenses. The ASSX leveraged ETF resets its exposure daily. Returns over periods longer than one trading day may therefore differ substantially from twice Strive’s performance, particularly during volatile markets. The fund does not hold Bitcoin and is not a spot Bitcoin ETF; it provides leveraged exposure to Strive, a publicly traded Bitcoin treasury company and asset manager. Strive holds 25,000 BTC, ranking it as the fifth-largest publicly traded corporate Bitcoin holder, according to BitcoinTreasuries.NET. The company recently financed the purchase of 469 BTC through sales of SATA perpetual preferred stock. Strive shares gained 6.4% on Friday to close at $30.09, compared with an average 12-month analyst price target of $29.40. REX and Tuttle also offer 2x ETFs linked to Strategy, BitMine, Cipher Mining, Circle and SharpLink. The ASSX leveraged ETF gives traders a high-risk way to speculate on Strive’s Bitcoin treasury strategy, but its daily reset and single-stock concentration can amplify losses as well as gains.

Neutral

The news is neutral for the broader cryptocurrency market because ASSX is a single-stock leveraged ETF rather than a spot Bitcoin product. Its launch may increase trading activity and speculative demand for Strive shares, but it does not create direct institutional flows into BTC or materially change Bitcoin supply and demand. In the short term, ASSX could amplify moves in Strive. A rise in BTC prices or positive news about Strive’s treasury purchases may attract momentum traders, while falling BTC prices, equity-market weakness or financing concerns could trigger sharp losses. Daily leverage resets can also produce volatility drag and make results diverge from a simple 2x long-term return. Similar leveraged products tied to Strategy and other crypto-related companies have generally increased access to high-beta trades without reliably improving the underlying companies’ fundamentals. Over the longer term, the ETF could deepen liquidity and broaden participation in Bitcoin-treasury equities, but its impact on the BTC market should remain limited. Traders should monitor Strive’s BTC purchases, financing through preferred stock, trading volume, implied volatility and the performance of BTC itself.