First 2x leveraged ETF tracking Galaxy Digital launched by REX Shares and Tuttle Capital

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.