REX Shares and Tuttle Capital Management have launched the T-REX 2X Long ASST Daily Target ETF (ASSX), the first U.S. exchange-traded fund offering 2x daily long exposure to Strive (Nasdaq: ASST), a publicly traded Bitcoin treasury company. The fund began trading on Cboe BZX on September 18, 2026, extending the T-REX franchise of leveraged products into the Bitcoin-equity trade.
What ASSX Actually Tracks
ASSX seeks to return 200% of the daily performance of Strive’s common stock before fees and expenses. It does not hold Bitcoin directly and does not attempt to deliver twice Bitcoin’s daily return. Instead, the fund applies its leverage to Strive’s share price, which is itself driven by Bitcoin prices, the market’s valuation of the company’s treasury holdings, and its ability to raise capital to keep acquiring BTC. The fund launched with $250,000 in assets across 10,000 shares outstanding, and as of September 17, 2026 its holdings showed a 199.91% weighting in a swap instrument alongside cash, with a net asset value of $25 per share.
Strive and the Bitcoin Treasury Trade
Strive has become one of the newest names in the corporate Bitcoin treasury space. The company’s treasury recently passed 25,000 BTC, joining a cohort of publicly traded firms that collectively hold tens of billions of dollars in Bitcoin, a group led by firms such as Strategy. REX and Tuttle already run 2x products tied to other crypto-sensitive stocks, including Strategy, BitMine, Circle, Cipher Mining and SharpLink. By pairing leveraged daily exposure with Strive, ASSX lets traders express a short-term view on a high-beta Bitcoin-linked equity without buying the stock outright.
Daily Reset and the Risks of 2X Leverage
Because ASSX resets its exposure each trading day, returns compound and can diverge from twice Strive’s return over longer holding periods. A stock that rises 10% and then falls 10% ends about 1% below its starting level; a theoretical 2x product over the same two sessions would finish roughly 4% lower before fees. That path dependence makes ASSX a short-term trading instrument, and its risks are magnified by Strive’s existing sensitivity to Bitcoin price swings.
