REX Shares and Tuttle Capital Management have launched the T-REX 2X Long ASST Daily Target ETF under the ticker ASSX on Cboe. The fund is designed to deliver 200% of the daily return of Strive Asset Management common shares before fees and expenses. It is a leveraged single-stock ETF, not a spot Bitcoin product: it does not hold Bitcoin and does not target twice Bitcoin's daily return.
The ETF resets its exposure each trading day, meaning the 2x objective applies only over a one-day window. Multi-day returns can diverge sharply from twice the underlying stock's cumulative move because of daily compounding and volatility decay. REX and Tuttle already run similar leveraged products linked to crypto-sensitive stocks including Strategy, BitMine, Circle, Cipher Mining and SharpLink.
Strive has become a closely watched Bitcoin treasury proxy. The company holds 25,000 Bitcoin and recently purchased another 469 BTC for roughly $36.6 million between September 8 and September 11. That purchase was financed through sales of SATA, Strive's variable-rate perpetual preferred stock, which has recovered to within about 3% of its $100 par value after a sharp decline earlier in the year.
The launch expands the layered ecosystem around corporate Bitcoin treasury strategies. Traders can now express views through spot Bitcoin ETFs, Bitcoin treasury companies, preferred securities and leveraged ETFs tied to those companies' common stock. On Friday, Strive shares rose 6.4% to close at $30.09, slightly above the average 12-month analyst price target of $29.40. The new fund gives traders a way to amplify such moves, though it also doubles daily losses and carries path-dependent compounding risk.
Key documents for ASSX appear in SEC EDGAR under Form N-1A. Investors should review the prospectus for fees, counterparty arrangements and risk disclosures before trading.
