REX Shares and Tuttle Capital Management have launched ASSX, a new 2X leveraged ETF designed to provide amplified daily exposure to Strive, the Bitcoin-focused public company trading under the ticker ASST.
The T-REX 2X Long ASST Daily Target ETF trades on Cboe under the ticker ASSX and seeks to deliver 200% of the daily performance of Strive shares before fees and expenses. The fund began trading on September 18, giving traders a new leveraged product tied to one of the publicly traded companies building a large Bitcoin treasury.
What Is the ASSX ETF?
ASSX is a leveraged single-stock ETF. Its underlying asset is Strive, Inc. (NASDAQ: ASST), not Bitcoin itself.
The fund's objective is to provide 200% of ASST's daily performance, before fees and expenses. In simple terms, if ASST gains 1% during a trading session, ASSX is designed to target approximately a 2% gain for that day. Likewise, a 1% decline in ASST would generally translate into an approximately 2% decline in ASSX before fees, expenses and other tracking effects.
That distinction is important because ASSX is not a 2X Bitcoin ETF. The fund does not seek to deliver twice Bitcoin's daily return and does not simply hold Bitcoin to generate its exposure.
ASSX Began Trading on Cboe
REX Shares and Tuttle Capital Management announced the launch on September 18, 2026. The ETF is listed on the Cboe BZX Exchange under the ticker ASSX.
REX describes the product as the first U.S. ETF offering 2X daily long exposure specifically to Strive's ASST shares. The fund is designed around a one-trading-day objective, with its leverage reset each day.
The launch expands the T-REX lineup of leveraged and inverse products connected to companies and assets that have become closely associated with the digital-asset market.
Why Strive Matters to the Bitcoin Market
Strive has transformed its balance sheet around a Bitcoin treasury strategy. The company's latest September 14 SEC filing reported that it held 25,000 BTC as of September 11, 2026.
The company added 469 BTC between September 8 and September 11 at an average purchase price of approximately $77,954 per bitcoin, including fees and expenses. That increased its Bitcoin holdings from 24,531 BTC on September 4 to 25,000 BTC on September 11.
Because ASST represents equity in a company with substantial Bitcoin exposure, the stock can be influenced by Bitcoin prices, the market value assigned to Strive's treasury holdings, capital-raising activity and broader investor sentiment toward Bitcoin treasury companies.
ASSX Is Different From a Spot Bitcoin ETF
The easiest way to understand ASSX is to separate the three layers involved:
| Product | What It Tracks | Exposure |
|---|---|---|
| Bitcoin | BTC price | Direct cryptocurrency exposure |
| Strive ASST | Strive common stock |
Equity exposure to Strive |
| ASSX | ASST daily performance |
200% of ASST's daily performance before fees and expenses |
This means ASSX adds another layer of leverage on top of a stock that is already closely associated with Bitcoin.
The Daily Reset Is the Key Detail
ASSX's 2X target applies to one trading day. It does not promise to produce twice ASST's return over a week, month or year.
Because the fund resets its exposure every trading day, the effects of compounding can cause its longer-term performance to differ substantially from twice the cumulative return of ASST.
For example, suppose ASST rises 10% on one day and then falls 10% the next day. The stock would be below its original level after those two moves. A daily leveraged product would experience a different path because the 2X exposure is recalculated after each session.
REX explicitly states that ASSX is designed for investors who understand daily leveraged products and are prepared to monitor their positions frequently. The issuer also warns that the fund can lose its entire principal in a single day if ASST falls by more than 50%.
ASSX Does Not Hold Bitcoin Directly
Another important distinction is that investors buying ASSX are not directly buying Bitcoin through the ETF.
The fund seeks leveraged exposure to Strive's common stock. REX says the fund may use derivative instruments such as swap agreements to obtain its targeted exposure. As a result, investors are exposed not only to movements in Bitcoin-related sentiment but also to risks associated with Strive's stock and the fund's leveraged structure.
That can make the product behave differently from both Bitcoin and ASST over longer periods.
Strive's Bitcoin Treasury Reached 25,000 BTC
The ASSX launch comes as Strive continues expanding its Bitcoin treasury.
According to Strive's September 14 Form 8-K, the company held 25,000 BTC as of September 11. The latest purchase added 469 BTC at an average price of approximately $77,954 per coin.
The company had previously reported purchasing 1,375 BTC between August 31 and September 4 at an average price of approximately $79,281 per Bitcoin.
Those purchases demonstrate why Strive has become increasingly connected to the Bitcoin treasury-company segment, although ASST remains an equity security rather than Bitcoin itself.
ASSX Adds Another Leveraged Bitcoin-Linked Trading Product
REX and Tuttle already offer leveraged products connected to other companies associated with digital assets. Their lineup includes products linked to companies such as Strategy, BitMine, Cipher Mining, Circle and SharpLink.
ASSX extends that strategy to Strive, giving active traders a vehicle specifically targeting daily moves in ASST.
The structure is particularly notable because investors can already gain exposure to Strive's Bitcoin treasury strategy through ASST itself. ASSX adds a second layer by targeting twice the stock's daily move before fees and expenses.
What Traders Need to Understand
The attraction of a 2X daily ETF is straightforward: a relatively small move in the underlying stock can produce a larger percentage move in the leveraged fund.
But leverage works in both directions.
If ASST falls sharply, ASSX can decline approximately twice as much on that trading day before fees and other effects. The daily reset can also produce significant differences between ASSX's longer-term return and a simple 2X calculation of ASST's cumulative performance.
REX therefore describes the fund as a product for knowledgeable investors who understand leveraged ETFs and are willing to monitor their portfolios actively.
Why ASSX Is Getting Attention
The launch arrives as Bitcoin treasury companies continue to develop new ways of raising capital and giving investors exposure to corporate Bitcoin strategies.
Strive's 25,000-BTC treasury makes ASST a notable equity proxy for investors following the Bitcoin treasury sector. ASSX takes that equity exposure and packages it into a daily leveraged ETF.
However, the product should not be interpreted as a straightforward 2X Bitcoin investment. Its performance depends primarily on ASST's daily share-price movement, while ASST itself can be affected by Bitcoin, corporate financing, treasury valuation and broader stock-market conditions.
ASSX vs. ASST: Key Difference
| Feature | ASSX | ASST |
|---|---|---|
| Type | 2X leveraged ETF | Common stock |
| Underlying | Strive common stock | Strive, Inc. |
| Ticker | ASSX | ASST |
| Target | 200% of ASST's daily performance |
Actual market performance of ASST |
| Daily reset | Yes | No leveraged ETF reset |
| Direct Bitcoin holdings | No | Strive holds Bitcoin at the corporate level |
Bottom Line
REX Shares and Tuttle Capital's launch of ASSX gives traders a new way to obtain 2X daily exposure to Strive's ASST stock, a company that has built a substantial corporate Bitcoin treasury.
The key fact is that ASSX targets 200% of ASST's daily performance, not twice the price of Bitcoin. Its leverage resets every trading day, which means longer-term returns can differ significantly from a simple 2X calculation.
With Strive reporting 25,000 BTC held as of September 11, 2026, the new ETF adds another leveraged instrument to the growing market around publicly traded Bitcoin treasury companies.
Updated September 21, 2026. This article is for news and informational purposes and does not constitute investment advice.
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