Key Takeaways
- • REX Shares and Tuttle Capital Management launched GLXU, the first 2x leveraged ETF tracking Galaxy Digital Holdings, expanding their T-REX single-stock ETF suite to 25+ funds on August 8, 2025.
- • GLXU carries a 1.5% annual expense ratio and is designed as a short-term trading vehicle for daily holding periods; longer-term investors face volatility decay risk inherent to leveraged ETF structures.
- • Galaxy Digital's stock fell nearly 5% to $27.60 on the launch day, reflecting broader pressure from the company's disclosure that total assets declined 43% to $6.3 billion in Q2 2025, though the firm posted positive net income of $30.7 million.
- • The T-REX lineup now includes leveraged and inverse exposure to 40+ single stocks and cryptocurrencies, positioning REX and Tuttle Capital as key players in the active trading ETF market segment.
- • Galaxy Digital trades on both the Toronto Stock Exchange and Nasdaq and recently facilitated an 80,000 BTC sale for a Satoshi-era investor, marking the largest notional bitcoin transaction the firm has executed.
Summary
REX Shares and Tuttle Capital Management launched GLXU, the T-REX 2X Long Galaxy Digital Daily Target ETF, on August 8, 2025, marking the first 2x leveraged exchange-traded fund offering direct exposure to Galaxy Digital Holdings (GLXY). The fund joins an expanding roster of 25 T-REX single-stock leveraged ETFs, which also track companies including Apple, Nvidia, and bitcoin treasury firm Strategy. Scott Acheychek, COO of REX, stated that the launch reflects the firms' commitment to providing "precision tools for active traders" seeking amplified views on companies operating in digital asset innovation.
Like other single-stock leveraged ETFs in the T-REX suite, GLXU is explicitly structured as a short-term trading instrument designed for daily holding periods. The fund charges a 1.5% annual expense ratio and carries the standard risks associated with leveraged products, including volatility decay that can erode returns for investors holding positions beyond one day. This structural limitation positions GLXU primarily for tactical traders rather than long-term buy-and-hold investors.
Galaxy Digital, co-founded and led by CEO Mike Novogratz, operates as a digital assets firm engaged in proprietary trading, market making, and facilitation of large cryptocurrency transactions for institutional clients. The company trades on both the Toronto Stock Exchange and Nasdaq. Recently, Galaxy Digital facilitated an 80,000 BTC sale for a Satoshi-era investor, representing the largest notional bitcoin transaction the firm has executed to date.
Galaxy Digital's financial position showed mixed signals ahead of the GLXU launch. The company disclosed that total assets declined 43% to $6.3 billion during the second quarter of 2025, a significant contraction from the prior period. However, the firm returned to profitability, posting net income of $30.7 million after reporting losses in both the preceding quarter and the year-ago period. On the launch day, Galaxy Digital's stock opened down sharply, falling approximately 5% to $27.60, reflecting investor concerns about the asset decline despite the earnings recovery.
The GLXU launch underscores the broader expansion of leveraged single-stock ETF offerings to retail and institutional traders. The T-REX suite now encompasses 40+ leveraged and inverse single-stock ETFs, representing one of the most comprehensive leveraged ETF platforms available in the U.S. market. This expansion reflects growing demand among active traders for precision exposure to individual equities with amplified daily returns.
Like other single-stock leveraged ETFs in the T-REX suite, GLXU is explicitly structured as a short-term trading instrument designed for daily holding periods. The fund charges a 1.5% annual expense ratio and carries the standard risks associated with leveraged products, including volatility decay that can erode returns for investors holding positions beyond one day. This structural limitation positions GLXU primarily for tactical traders rather than long-term buy-and-hold investors.
Galaxy Digital, co-founded and led by CEO Mike Novogratz, operates as a digital assets firm engaged in proprietary trading, market making, and facilitation of large cryptocurrency transactions for institutional clients. The company trades on both the Toronto Stock Exchange and Nasdaq. Recently, Galaxy Digital facilitated an 80,000 BTC sale for a Satoshi-era investor, representing the largest notional bitcoin transaction the firm has executed to date.
Galaxy Digital's financial position showed mixed signals ahead of the GLXU launch. The company disclosed that total assets declined 43% to $6.3 billion during the second quarter of 2025, a significant contraction from the prior period. However, the firm returned to profitability, posting net income of $30.7 million after reporting losses in both the preceding quarter and the year-ago period. On the launch day, Galaxy Digital's stock opened down sharply, falling approximately 5% to $27.60, reflecting investor concerns about the asset decline despite the earnings recovery.
The GLXU launch underscores the broader expansion of leveraged single-stock ETF offerings to retail and institutional traders. The T-REX suite now encompasses 40+ leveraged and inverse single-stock ETFs, representing one of the most comprehensive leveraged ETF platforms available in the U.S. market. This expansion reflects growing demand among active traders for precision exposure to individual equities with amplified daily returns.
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