First 2x leveraged ETF tracking Galaxy Digital launched by REX Shares and Tuttle Capital
Quick Take REX Shares and Tuttle Capital Management have launched GLXU, a 2x leveraged ETF tracking the stock price of Galaxy Digital. Galaxy Digital’s stock is up about 52% year-to-date, though it traded flat this week after the firm, led by CEO Mike Novogratz, reported its second-quarter earnings.
REX Shares and Tuttle Capital Management have launched the T-REX 2X Long Galaxy Digital Daily Target ETF (ticker GLXU), a 2x leveraged ETF tracking the stock price of Galaxy Digital, the digital assets firm co-founded and led by CEO Mike Novogratz.
REX and Tuttle added the fund to its roster of "T-REX" single-stock leveraged ETFs, alongside 24 other funds that track popular stocks like Nvidia, Apple, and bitcoin treasury firm Strategy.
"With the launch of GLXU, we’re offering traders a way to take amplified views on companies at the center of digital asset innovation," said REX COO Scott Acheychek in a statement . "This expansion of the T-REX lineup underscores our commitment to building precision tools for active traders."
Like other single-stock leveraged ETFs, the fund is designed to be held for a period of one day, as longer-term holders may lose out on potential gains due to volatility decay . The fund carries an expense ratio of 1.5% per year.
Galaxy Digital, which trades on both the Toronto Stock Exchange and Nasdaq, is a digital assets firm that engages in proprietary trading and market making and also facilitates large crypto transactions for clients. The firm recently sold 80,000 BTC for a Satoshi-era investor in the largest ever notional sale of bitcoin.
Galaxy's stock has traded largely flat on the week, after the company disclosed its total assets slid 43% to $6.3 billion over the second quarter of 2025. The company logged positive net income of $30.7 million after reporting losses both in the previous quarter and in the year-ago period.
The stock opened down on Friday, falling nearly 5% to trade at $27.60, according to Yahoo Finance data .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Approaching the "Death Cross"! Korean stocks hit "Black Thursday", KOSPI continuously falls below the 200-day moving average, is a prolonged bear market coming?
Hit hard by rising US inflation and concerns over AI profitability, Korean stocks plummeted 7.57% in a single day on October 15, with two major indices triggering circuit breakers for the first time in two and a half months. Foreign investors have cumulatively sold over 16 trillion won ($12 billion) in eight days. Technical indicators are flashing warnings: the KOSPI has fallen more than 8% below its 200-day moving average, and if it cannot recover within two weeks, the probability of a prolonged bear market is as high as 43%; a "death cross" is expected to form after 16 trading days. The Q3 earnings season will serve as the final validation point.
A glimmer of hope amid the AI winter? TSMC (TSM.US) power orders are fully booked and price hikes are on the way—"self-sustaining capability" offsets financing cost risks
In the same week that global AI stocks suffered heavy losses due to inflation and interest rate hike expectations, TSMC delivered an almost flawless report card.
US Treasury yields surge: How much longer can the US economy and stock market hold out? AI may be the most vulnerable link
Global bond yields have risen to high levels, driven by both fundamental and technical factors. Goldman Sachs believes that banks, the US stock market, and credit markets still show resilience, with only mild economic drag, while Moody’s economist Zandi warns that the US economy is actually "fragile." High interest rates continue to suppress consumption and investment, and the AI boom fueled by high leverage and cyclical investment is seen as the most vulnerable potential risk under the high interest rate environment.
Crypto prices
More
