Strive (ASST) Stock Jumps 6% Following Launch of 2x Leveraged ETF by REX

Key Highlights

• Strive shares climbed 6% on Friday, finishing at $30.09 following the launch of a new 2x leveraged ETF tracking ASST.
• REX Shares partnered with Tuttle Capital Management to introduce ASSX on Cboe BZX on Sept. 18.
• ASSX aims to deliver 200% of Strive’s daily returns before accounting for fees and costs.
• The company’s Bitcoin treasury stood at 25,000 BTC as of Sept. 11 following a 469 BTC acquisition.
• The new ETF features a 1.5% expense ratio and is primarily intended for short-term traders due to daily leverage rebalancing.

Strive (ASST) shares advanced 6.4% on Friday, closing at $30.09, as market participants welcomed a new leveraged instrument for trading the Bitcoin-focused treasury firm. Intraday price action saw the stock fluctuate between $29.33 and $30.38.

Strive, Inc., ASST

Volume for the session came in around 16.1 million shares. The Friday advance built on Thursday’s 3.17% increase, which saw ASST settle at $28.28.

REX Shares collaborated with Tuttle Capital Management to bring the T-REX 2X Long ASST Daily Target ETF to market on Sept. 18. The product began trading on Cboe under the symbol ASSX.

ASSX is structured to provide 200% of Strive’s daily stock movements before accounting for management fees and operating expenses. It represents the first U.S.-listed ETF offering 2x daily long exposure specifically targeting ASST shares.

New ETF Offers Double Daily Returns Tied to Strive Performance

The fund’s leverage mechanism resets at the close of each trading day. This daily reset structure means the fund’s multi-day performance may deviate significantly from double Strive’s cumulative return over the same timeframe.

ASSX does not directly hold Bitcoin nor does it track cryptocurrency prices. Instead, its objective is centered exclusively on the daily price action of Strive’s common stock.

To accomplish its leveraged positioning, the fund may employ various derivatives instruments, including swap contracts. REX has disclosed a total expense ratio of 1.5% for the product.

A theoretical 1% single-day drop in ASST shares would typically translate to approximately a 2% decline in ASSX, excluding borrowing expenses and fees. REX has also cautioned that a same-day ASST decline exceeding 50% could result in total principal loss for ASSX investors.

ASSX concluded its inaugural trading session at $28.27 after opening at $27.78. The fund traded in a range of $27.22 to $28.70, recording volume of 123,946 shares.

Extended-hours trading data subsequently showed ASSX at $28.71. REX and Tuttle previously launched similar leveraged products tracking Strategy, BitMine, Cipher Mining, Circle, and SharpLink.

Company’s Bitcoin Treasury Expands to 25,000 BTC

The ETF debut coincides with Strive’s ongoing expansion of its Bitcoin reserves. Company disclosures indicated a total of 25,000 BTC as of Sept. 11.

Between Sept. 8 and Sept. 11, Strive acquired 469 BTC at an average cost of $77,954 per Bitcoin. This transaction increased the company’s total from 24,531 BTC.

During the prior reporting period, the company had purchased 1,375 BTC for approximately $109 million. An additional acquisition in late August brought in 1,800 BTC for roughly $143 million.

According to BitcoinTreasuries.net, Strive currently ranks fifth among publicly traded corporate Bitcoin holders. The company trails Strategy, Twenty One Capital, Metaplanet, and MARA Holdings.

Strive’s most recent filing indicated cash and cash equivalents totaling $204.2 million. The firm also maintained 505,000 Strategy STRC preferred units with an approximate market value of $49.8 million.

CEO Matt Cole disclosed that funding for the recent Bitcoin acquisition came from SATA preferred stock. The SATA preferred shares carry a regular annual dividend rate of 13% for periods starting on or after Oct. 1.

The most recently confirmed Bitcoin balance for Strive remains at 25,000 BTC. Any subsequent acquisitions will need to be verified through upcoming company announcements or regulatory filings.