Key Takeaways
- • REX Shares and Tuttle Capital Management launched GLXU, the first 2x leveraged ETF tracking Galaxy Digital (GLXY), expanding their T-REX product suite to 25 single-stock leveraged funds designed for daily trading strategies.
- • GLXU carries a 1.5% annual expense ratio and is structured for intraday or short-term holding periods, as longer-term exposure subjects investors to volatility decay—a structural characteristic of daily rebalancing leverage products.
- • Galaxy Digital reported Q2 2025 total assets of $6.3 billion (down 43% sequentially) but returned to profitability with net income of $30.7 million after losses in the prior quarter and year-ago period; the stock declined nearly 5% on the launch announcement to $27.60.
- • The T-REX lineup now includes leveraged exposure to major technology and financial names including Nvidia, Apple, and Strategy, positioning the product suite as tools for active traders seeking amplified daily performance tracking.
- • Galaxy Digital engages in proprietary trading, market making, crypto custody, and large transaction facilitation; the firm recently executed an 80,000 BTC sale for a Satoshi-era investor—described as the largest notional bitcoin sale on record.
Summary
REX Shares and Tuttle Capital Management have introduced GLXU, the T-REX 2X Long Galaxy Digital Daily Target ETF, marking the first 2x leveraged exchange-traded fund offering direct exposure to Galaxy Digital Holdings (ticker GLXY). The product trades on Cboe and is designed to deliver double the daily performance of Galaxy Digital's stock price, making it the 25th addition to the T-REX single-stock leveraged ETF lineup.
The fund structure reflects standard leveraged ETF mechanics: it is explicitly designed for daily trading and short-term holding periods rather than long-term portfolio positions. The 1.5% annual expense ratio is typical for leveraged single-stock products. REX COO Scott Acheychek positioned GLXU as a precision tool for active traders seeking amplified exposure to companies operating in digital asset innovation, emphasizing the firm's commitment to building specialized trading instruments rather than buy-and-hold vehicles.
Galaxy Digital, co-founded and led by CEO Mike Novogratz, operates as a diversified financial services and investment management firm spanning proprietary trading, market making, digital asset custody, and institutional transaction facilitation. The company trades on both the Toronto Stock Exchange and Nasdaq. In its Q2 2025 results, Galaxy disclosed total assets of $6.3 billion, representing a 43% sequential decline, though the firm returned to profitability with $30.7 million in net income after posting losses in both the prior quarter and year-ago period. The firm recently executed a notable transaction involving the sale of 80,000 BTC on behalf of a Satoshi-era investor—reported as the largest notional bitcoin sale transaction completed to date.
At the time of the ETF launch announcement, Galaxy Digital stock opened lower, declining approximately 5% to $27.60 on Friday trading, reflecting broader market conditions and the sequential decline in reported assets. The launch of GLXU expands REX's T-REX portfolio to cover a diverse range of institutional and retail trading interests, including major technology holdings (Apple, Nvidia) and cryptocurrency-adjacent financial services providers.
The fund structure reflects standard leveraged ETF mechanics: it is explicitly designed for daily trading and short-term holding periods rather than long-term portfolio positions. The 1.5% annual expense ratio is typical for leveraged single-stock products. REX COO Scott Acheychek positioned GLXU as a precision tool for active traders seeking amplified exposure to companies operating in digital asset innovation, emphasizing the firm's commitment to building specialized trading instruments rather than buy-and-hold vehicles.
Galaxy Digital, co-founded and led by CEO Mike Novogratz, operates as a diversified financial services and investment management firm spanning proprietary trading, market making, digital asset custody, and institutional transaction facilitation. The company trades on both the Toronto Stock Exchange and Nasdaq. In its Q2 2025 results, Galaxy disclosed total assets of $6.3 billion, representing a 43% sequential decline, though the firm returned to profitability with $30.7 million in net income after posting losses in both the prior quarter and year-ago period. The firm recently executed a notable transaction involving the sale of 80,000 BTC on behalf of a Satoshi-era investor—reported as the largest notional bitcoin sale transaction completed to date.
At the time of the ETF launch announcement, Galaxy Digital stock opened lower, declining approximately 5% to $27.60 on Friday trading, reflecting broader market conditions and the sequential decline in reported assets. The launch of GLXU expands REX's T-REX portfolio to cover a diverse range of institutional and retail trading interests, including major technology holdings (Apple, Nvidia) and cryptocurrency-adjacent financial services providers.
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