Tuttle Capital Management and REX Shares have rolled out a new leveraged exchange-traded fund designed to produce double the daily price movement of Strive, an asset manager and publicly listed corporate Bitcoin treasury entity.
Trading under the ticker symbol ASSX on the Cboe exchange, the T-REX 2X Long ASST Daily Target ETF launched on Friday, aiming to generate 200 percent of the daily equity performance of Strive prior to accounting for expenses and fees.
Because the investment vehicle resets its leverage every single day, total returns accumulated over timeframes exceeding a single trading session may deviate substantially from two times Strive’s underlying share performance. Contrasting with physical Bitcoin ETFs, ASSX holds no actual Bitcoin and does not attempt to track its market value, instead delivering leveraged exposure specifically focused on Strive equity.
According to statements from REX and Tuttle, both entities also manage 2x leveraged funds tied to Strategy, BitMine, Cipher Mining, Circle, and SharpLink.
As indicated by data from BitcoinTreasuries.NET, Strive currently maintains a reserve of 25,000 Bitcoin, positioning the organization as the fifth-largest corporate holder of Bitcoin globally. The firm funded its most recent acquisition of 469 BTC through the issuance of SATA, its perpetual preferred stock.
Strive’s stock experienced a 6.4% increase on Friday, concluding the session at $30.09, which sits slightly above the $29.40 average twelve-month target price established by analysts monitored through S&P Global.
Source: Yahoo Finance
Originally published at https://cointelegraph.com/news/rex-launches-2x-leveraged-etf-tied-to-bitcoin-treasury-firm-strive?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
