REX Shares and Tuttle Capital launch 2x leveraged ETF on Strive

REX Shares and Tuttle Capital Management have launched the T-REX 2X Long ASST Daily Target ETF (ASSX) on the Cboe. The fund is designed to provide 200% of the daily share-price performance of Strive, a publicly traded Bitcoin treasury company and asset manager.

Unlike spot Bitcoin ETFs, the ASSX does not hold Bitcoin or track the price of the cryptocurrency directly. Instead, it offers leveraged exposure to the shares of the Bitcoin treasury firm. The fund resets its leverage on a daily basis, which means that long-term returns may differ significantly from twice the performance of the underlying asset due to volatility decay and daily rebalancing.