Galaxy GLXU 2X ETF Launches on Cboe Offering Double Daily Returns

The Galaxy GLXU 2x ETF, the first leveraged product designed to track the performance of Galaxy Digital Holdings Ltd. (GLXY), officially began trading on the Cboe exchange on August 8, 2025. This product is managed by REX Shares and Tuttle Capital Management and is intended to provide double the daily return of Galaxy Digital’s stock, offering active traders an amplified exposure to short-term price movements in the company [1]. The ETF is part of the T-REX suite of leveraged single-stock ETFs, which includes products tracking major corporations such as Apple and Nvidia [2].

Galaxy Digital, co-founded and led by Mike Novogratz, is a diversified financial services platform with significant involvement in the cryptocurrency and blockchain industry. The launch of GLXU reflects the growing trend of financial instruments tailored to high-growth technology and digital asset companies. However, as with any leveraged product, GLXU carries increased risk due to the compounding effects of daily rebalancing, which may not align with the long-term performance of the underlying asset [5]. The ETF is structured as a daily target product, meaning it aims to deliver twice the return of the underlying stock on a daily basis, but it does not seek to achieve double the performance over longer periods [6].

The launch of GLXU is expected to influence the volatility of Galaxy Digital’s stock and potentially increase trading activity. Analysts suggest that the product could facilitate greater investor participation in the digital asset space by providing an alternative to directly purchasing shares [3]. Bloomberg ETF analyst Eric Balchunas highlighted the significance of the launch, noting it as a milestone for crypto-related finance and a sign of the sector's increasing sophistication [1].

As digital asset companies continue to attract attention from both institutional and retail investors, the introduction of leveraged ETFs like GLXU may act as a catalyst for further capital inflows into the sector. This product, along with similar offerings, could set a precedent for future developments in crypto-financial instruments, influencing both regulatory and technological advancements in the industry [7].

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[1] First 2x leveraged ETF tracking Galaxy Digital launched ... (https://www.theblock.co/post/366194/first-2x-leveraged-etf-tracking-galaxy-digital-launched-by-rex-shares-and-tuttle-capital)

[2] T-REX Launches 2X ETF for Galaxy Digital Traders (https://coincentral.com/t-rex-launches-2x-etf-for-galaxy-digital-traders/)

[3] Galaxy Digital Stock Gets New 2X Leveraged ETF (https://crypto-economy.com/galaxy-digital-stock-gets-new-2x-leveraged-etf/)

[5] REX Shares and Tuttle Launch First 2X Leveraged ETF ... (https://www.ainvest.com/news/rex-shares-tuttle-launch-2x-leveraged-etf-tracking-galaxy-digital-2508/)

[6] REX Shares and Tuttle Capital launch first 2x leveraged ... (https://crypto.news/rex-shares-and-tuttle-capital-launch-first-2x-leveraged-etf-tracking-galaxy-digital/)

[7] REX Shares and Tuttle Capital Management Launch T ... (https://www.businesswire.com/news/home/20250808299502/en/REX-Shares-and-Tuttle-Capital-Management-Launch-T-REX-2X-Long-GLXY-Daily-Target-ETF-CBOE-GLXU)