REX Launches 2X Leveraged ETF Tracking Bitcoin Treasury Firm Strive
TL;DR
- REX Shares has launched the T-REX 2X Long Strive Daily Target ETF below ticker ASSX.
- The fund seeks 200% of the day by day efficiency of Strive Asset Management inventory.
- ASSX is a leveraged single-stock ETF, not a spot Bitcoin ETF.
Investors now have a leveraged ETF tied to one of many public firms constructing a big Bitcoin treasury.
REX Shares has launched the T-REX 2X Long Strive Daily Target ETF, buying and selling below ticker ASSX, with an goal of delivering 200% of the day by day efficiency of Strive Asset Management shares.
ASSX Adds Leverage On Top Of A Bitcoin Treasury Stock
Strive’s personal stability sheet holds 26,355 BTC, making its fairness delicate to each its working enterprise and the market worth of its Bitcoin treasury.
ASSX takes that fairness publicity and provides day by day leverage.
That is materially completely different from proudly owning Bitcoin instantly. It can also be completely different from holding a spot Bitcoin ETF.
The fund tracks Strive inventory, not BTC, and its 2x goal resets day by day. Over durations longer than at some point, compounding and volatility may cause returns to diverge considerably from merely doubling Strive’s longer-term inventory efficiency.
Bitcoin Treasury Equities Keep Spawning New Products
As extra public firms undertake massive crypto treasuries, the equities themselves have gotten constructing blocks for extra monetary merchandise.
ASSX is an instance of that second-order market.
Investors who need amplified day by day publicity to Strive can now entry it via an exchange-traded product, however they’re taking over the dangers of leverage, single-stock focus and Strive’s company construction on the identical time.
The itemizing ought to subsequently be understood as a 2x leveraged ETF on ASST shares.
It just isn’t a leveraged spot-Bitcoin product, though Bitcoin stays a serious driver of the underlying firm’s funding narrative.
This article was written by the News Desk and edited by Samuel Rae.