Rex Shares

What Rex Shares does

REX Shares, operating through its investment advisor entity REX Advisers, LLC, is a private U.S. exchange-traded product issuer specializing in alternative-strategy ETFs and ETNs. Founded in 2014 and headquartered in Redding with a lean staff of 1-10 employees, the firm creates and distributes products across four families: T-REX leveraged ETFs offering 2X and -2X daily target exposure to individual stocks, cryptocurrencies, and thematic baskets (40+ tickers including MSTU, NVDX, TSLT, BTCL, ETU, CRWU, CCUP, and recently SpaceX); REX-Osprey spot crypto ETFs that were first-to-market for spot Solana with staking (SSK), spot XRP (XRPR), and spot Dogecoin (DOJE); REX income and thematic ETFs including the Growth & Income suite (NVII, TSII, WMTI), Covered Call ETFs (FEPI, AIPI, CEPI), the IncomeMax Option Strategy ETF (ULTI), the Autocallable Income ETF (ATCL), the pure-play Drone ETF (DRNZ), and the Laddered T-Bill ETF (TLDR); and the MicroSectors ETN line for sector-specific leveraged exposure.

The firm's core technology is the T-REX platform, which combines total return swap capabilities with daily-reset leveraged replication to enable single-stock 2X/-2X exposures that previously required over-the-counter derivatives. This platform is also licensed to external issuers such as Roundhill Investments, extending distribution without proportionate capital deployment. Revenue is generated through two streams: ETF management fees embedded in expense ratios (0.65% to 1.49% depending on product complexity) and platform licensing royalties from co-branded partner products. Products are listed on CBOE BZX and Nasdaq, reaching investors through standard U.S. brokerage accounts, with additional registration for Japanese retail distribution through Matsui and Nomura and a European UCITS shelf.

Name

Rex Shares

Legal name

REX Advisers, LLC

Website

https://rexetf.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

REX Shares is a private U.S. ETF issuer specializing in alternative-strategy exchange-traded products, including 2X/-2X leveraged single-stock ETFs (T-REX), first-to-market spot crypto ETFs with staking (REX-Osprey), covered-call and autocallable income ETFs, and thematic ETFs, distributed to active traders and income investors via CBOE, Nasdaq, and global brokerage partners.

Ownership category

akta.pro rank

Product category

Exchange-Traded Funds (ETFs)

NAICS

Open-End Investment Funds (52591), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Sector & Industry Equity ETFs (FSAAAFAC)

akta.pro secondary industries

Index-Tracking Funds, ETPs & Structured Index Products (Crypto) (FSADAHAC), Leveraged Tokens & Synthetic Leveraged ETPs (Crypto) (FSADAGAF), Fixed Income ETFs (Government, Corporate, Munis, TIPS) (FSAAAFAD), Real Assets & Infrastructure ETFs (REITs, Infrastructure, Natural Resources) (FSAAAFAH)

Keywords

• Leveraged single-stock ETFs
• Spot cryptocurrency ETFs
• Covered call income ETFs
• Thematic drone ETF
• Autocallable ETF products

Headquarters

HQ city

Redding

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. ETF Management Fees: REX Shares earns revenue through management fees embedded in expense ratios charged on its ETF products. Expense ratios range from 0.65% to 1.49% depending on the product complexity.
2. Platform Licensing: REX Shares licenses its T-REX leveraged ETF platform and brand to partners like Roundhill Investments for co-branded leveraged products.

Pricing tiers

Go-to-market motion3 records

Distribution channels2 records

Marketing channels3 records

Core offering

REX Shares creates and distributes exchange-traded products (ETFs and ETNs) focused on non-traditional, intelligently engineered strategies. Its core offering includes a large suite of T-REX 2X and -2X daily leveraged and inverse single-stock and cryptocurrency ETFs, spot crypto ETFs with staking rewards, covered call and growth & income ETFs delivering weekly distributions, options-based income strategies, autocallable income ETFs, and thematic ETFs such as the pure-play drone ETF, all listed on major U.S. exchanges and accessible through standard brokerage accounts.

Product overview

REX Shares is an innovative ETP (Exchange Traded Product) provider specializing in alternative-strategy ETFs and ETNs. The firm operates multiple distinct product lines: T-REX Leveraged ETFs (2X/-2X daily leveraged exposure to 40+ individual stocks and cryptocurrencies including Strategy, NVIDIA, Tesla, Bitcoin, Ether, SpaceX, CoreWeave, Circle, and more); REX-Osprey ETFs (first U.S.-listed spot crypto ETFs for Solana with staking, XRP, and Dogecoin); REX Covered Call ETFs (FEPI, AIPI, CEPI) offering volatility-based income strategies; REX Growth & Income ETFs (NVII, TSII, WMTI) providing amplified single-stock exposure with weekly income through synthetic options; REX IncomeMax (ULTI) targeting volatile stocks with dynamic options; REX Drone ETF (DRNZ) as the first pure-play drone thematic ETF; REX Autocallable Income ETF (ATCL) with daily laddered autocallable structure; MicroSectors ETNs for sector-specific leveraged exposure; and Laddered T-Bill ETF (TLDR) for fixed income. The firm created MicroSectors and co-created the T-REX product lines of leveraged and inverse tools, and recently launched option-based income strategies. Products are listed on Cboe and Nasdaq exchanges.

Differentiator

Problem solved

Functional benefit

Brands

• MicroSectors: Exchange Traded Notes (ETNs) providing leveraged and inverse exposure to specific market sectors.
• T-REX
• REX-Osprey
• REX IncomeMax

Products and services

• T-REX Leveraged ETFs A comprehensive suite of 2X and -2X leveraged and inverse ETFs providing 200% or -200% daily target exposure to individual stocks, cryptocurrencies, and thematic targets including Strategy (MSTU), NVIDIA (NVDX), Tesla (TSLT), Bitcoin (BTCL), Ether (ETU), SpaceX (SPAX), CoreWeave (CRWU), Circle (CCUP), Robinhood (ROBN), and more. Designed for active traders seeking pinpoint daily positioning with daily rebalancing and accessible through standard brokerage accounts.
• T-REX 2X Long DRAM Daily Target ETF (RAM) A 2x leveraged ETF providing 200% daily exposure to the Roundhill Memory ETF (DRAM), targeting the AI infrastructure and memory-chip theme including Micron Technology, for active traders seeking amplified exposure to AI infrastructure buildout.
• T-REX 2X Long SpaceX Daily Target ETF (SPAX) A 2x leveraged ETF providing 200% daily exposure to SpaceX shares following the company's 2026 IPO, enabling traders to express amplified directional views on SpaceX equity.
• T-REX 2X Long Strategy Daily Target ETF (MSTU) A 2x leveraged ETF providing 200% daily exposure to Strategy Inc. (MSTR) shares through total return swaps, holding $557 million in net assets and achieving $205 million in average daily trading volume.
• T-REX 2X Long NVIDIA Daily Target ETF (NVDX) A 2x leveraged ETF providing 200% daily exposure to NVIDIA Corporation (NVDA) stock for traders seeking amplified directional exposure to AI chip leaders.
• T-REX 2X Long Bitcoin Daily Target ETF (BTCL) A 2x leveraged ETF providing 200% daily exposure to Bitcoin price movements for active crypto traders seeking amplified exposure via standard brokerage accounts.
• T-REX 2X Long Ether Daily Target ETF (ETU) A 2x leveraged ETF providing 200% daily exposure to Ether (ETH) price movements for active crypto traders.
• REX FANG Innovation Equity Premium Income ETF (FEPI) A covered call ETF providing exposure to the Solactive FANG Innovation Index with an option-based income strategy, targeting 15 highly liquid tech stocks and offering a 34.07% distribution rate.
• REX AI Equity Premium Income ETF (AIPI) A covered call ETF tracking the BITA AI Leaders Select Index with a volatility-based income strategy, providing exposure to AI-focused companies with a -0.34% 30-Day SEC Yield.
• REX Crypto Equity Premium Income ETF (CEPI) A covered call ETF tracking the BITA Crypto Assets and Digital Payments Index, targeting 25 crypto-engaged companies and offering a 42.92% distribution rate.
• REX NVDA Growth & Income ETF (NVII) An actively managed ETF targeting weekly income and leveraged exposure to NVIDIA Corporation using derivatives and covered call strategies, offering a 48.12% distribution rate and $102 million in AUM.
• REX TSLA Growth & Income ETF (TSII) A single-stock growth and income ETF providing leveraged exposure to Tesla Inc. (TSLA) with amplified equity exposure and weekly income through partial call option strategies using synthetic swaps.
• REX WMT Growth & Income ETF (WMTI) A single-stock growth and income ETF providing leveraged exposure to Walmart Inc. (WMT) with amplified equity exposure and weekly income through partial call option strategies.
• REX IncomeMax Option Strategy ETF (ULTI) An actively managed options strategy ETF targeting the most volatile U.S. stocks with dynamically adjusted put and call positions, seeking to turn volatility into weekly income with downside mitigation against extreme market swings.
• REX Autocallable Income ETF (ATCL) The first autocallable ETF with daily laddered exposure, seeking income of 10%+ above SOFR with a diversified daily laddered autocallable portfolio and enhanced downside mitigation through a deep maturity barrier.
• REX Drone ETF (DRNZ) The first pure-play drone thematic ETF providing targeted exposure to the global drone and UAV economy spanning defense and commercial innovation, based on the VettaFi Drone Index tracking companies earning significant revenue from drones.
• REX-Osprey SOL + Staking ETF (SSK) The first U.S.-listed ETF providing spot exposure to Solana (SOL) with on-chain native staking rewards, combining REX's ETF structure with Osprey's crypto fund expertise.
• REX-Osprey XRP ETF (XRPR) The first U.S.-listed ETF providing spot exposure to XRP cryptocurrency for investors seeking regulated spot XRP exposure through standard brokerage accounts.
• REX-Osprey DOGE ETF (DOJE) The first U.S.-listed ETF providing spot exposure to Dogecoin for investors seeking regulated spot DOGE exposure through standard brokerage accounts.
• Osprey Bitcoin Trust (OBTC) A Bitcoin trust product providing spot exposure to Bitcoin through the Osprey Funds partnership, offering investors a Bitcoin exposure vehicle within the REX product ecosystem.
• GIF ETF An ETF launched on Cboe Global Markets holding equal-weight positions in nine leveraged single-stock ETFs, paying weekly dividend distributions funded by covered call premiums across names including Strategy, Coinbase, Nvidia, Tesla, Robinhood, Palantir, CoreWeave, Eli Lilly, and Walmart.
• MicroSectors ETNs A suite of Exchange Traded Notes (ETNs) under the MicroSectors sub-brand providing leveraged and inverse exposure to specific market sectors, enabling sophisticated investors to capitalize on specific sector trends with pinpoint accuracy.
• REX Laddered T-Bill ETF (TLDR) A fixed income ETF providing exposure to laddered Treasury bills for stable income generation, complementing REX's higher-octane product lines with a conservative cash-management option.
• BMO REX AI ETNs (AIQU and AIQD) Leveraged exchange-traded notes co-developed with BMO offering 3x long and -3x short exposure to a benchmark index of 25 U.S.-listed AI companies, trading under tickers AIQU and AIQD on NYSE Arca with maturity date May 30, 2046.

Quantifiable outcome

• DRAM ETF generated 150%+ total return since April debut
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Tuttle Capital ManagementcoreStrategic or Co-development Partner · 24 June 2026Tuttle Capital Management is a key partner in the T-REX leveraged ETF platform, co-developing single-stock leveraged ETFs with REX Shares. The partnership has produced products including MSTU (Strategy), RAM (DRAM), and SpaceX products.
• Roundhill InvestmentscoreStrategic or Co-development Partner · 24 June 2026Roundhill Investments partnered with REX Shares (T-REX platform) to launch the Roundhill T-REX 2X Long DRAM Daily Target ETF (RAM), providing leveraged exposure to the memory-chip theme and AI infrastructure buildout.
• VettaFicoreStrategic or Co-development Partner · 29 October 2025VettaFi (formerly TMX VettaFi) collaborated with REX Shares on index design for the REX Drone ETF (DRNZ), creating the VettaFi Drone Index that tracks companies with significant drone-related revenues.
• Osprey FundscoreStrategic or Co-development PartnerREX partnered with Osprey Funds to launch the REX-Osprey ETH + Staking ETF (SSK) and other crypto ETFs, combining REX's ETF structure with Osprey's crypto fund expertise.
• Bank of Montreal (BMO)minorStrategic or Co-development PartnerBMO and REX Shares jointly launched leveraged ETNs offering 3x long and -3x short exposure to a benchmark index of 25 U.S.-listed AI companies, trading under tickers AIQU and AIQD.

Scale indicators7 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Leverage Shares: Single-stock and thematic leveraged ETP provider with US and European listings. Directly competes with T-REX on individual stock 2X/-2X products and pursues similar thematic wrappers (crypto, AI).
• GraniteShares: Issuer of single-stock leveraged and inverse ETFs (e.g., on TSLA, NVDA, AAPL, MSTR). Closest pure-play competitor to REX's T-REX line in the single-stock daily leverage category.
• Direxion: Established leveraged and inverse ETF issuer with daily-reset 2X/-2X products across equities, sectors, and commodities. Directly comparable to T-REX on the leveraged single-stock and sector levered axis, though REX is more focused on single-stock daily leverage.
• Defiance ETFs: Thematic ETF issuer focused on disruptive technology, AI, quantum, and next-gen internet themes. Overlaps with REX's thematic single-stock and crypto income products (AIPI, CEPI).
• Roundhill Investments: Direct thematic ETF issuer that both partners with REX (launching DRAM/RAM on the T-REX platform) and competes with overlapping products in covered call (YIELD), thematic (AI, meme), and leveraged wrappers. Most relevant competitor given the licensing and rivalry dynamic.
• AXS Investments: Thematic and income-focused ETF sponsor with products in cannabis, SPAC, covered call, and single-stock income strategies. Comparable on income-thematic ETFs (similar to FEPI/NVII/TSII).
• Simplify ETFs: Innovative ETF issuer with option-income, derivatives-overlay, and thematic products. Comparable to REX IncomeMax (ULTI), ATCL autocallable, and the FEPI/AIPI/CEPI covered call line on the income-strategy axis.
• Tuttle Capital Management: Co-develops the T-REX leveraged product line with REX and independently launches thematic and leveraged ETFs (including meme-stock and single-stock products). Effectively both a partner and a parallel competitor in the speculative-theme leveraged space.

Broad incumbents

• ProShares: Large incumbent leveraged and inverse ETF provider (ultra 2X/-2X products across indices and sectors) and major crypto futures ETF issuer (BITO). Wider product breadth but lower single-stock and thematic specificity than REX.

Emerging players

• Volatility Shares: Emerging ETF issuer focused on volatility, derivatives-income, and forward-looking yield strategies. Comparable on the option-income (ULTI/ATCL) and innovative-structure axis.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/rexshares
• LinkedInlinkedin.com/company/15180560

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rex Shares