Leveraged ETF issuer REX Shares and Tuttle Capital Management expanded their growing lineup of single-stock products on Thursday with the launch of the T-REX 2X Long ASTS Daily Target ETF (BATS:ASUP) and the T-REX 2X Long LITE Daily Target ETF (BATS:LITU). The new funds are designed to deliver 200% of the daily performance of AST SpaceMobile Inc (NASDAQ:ASTS) and Lumentum Holdings Inc (NASDAQ:LITE), respectively.
Key features of the newly launched ETFs:
- ASUP seeks to deliver 200% of the daily performance of AST SpaceMobile stock.
- AST SpaceMobile is building a low-Earth-orbit satellite constellation designed to connect directly to standard, unmodified smartphones.
- AST SpaceMobile's strategic partners include AT&T Inc (NYSE:T), Verizon Communications Inc (NYSE:VZ), Vodafone Group PLC (NASDAQ:VOD) and Rakuten.
- LITU seeks to deliver 200% of the daily performance of Lumentum Holdings stock.
Lumentum manufactures optical chips, components, modules and subsystems used in cloud data centers, AI/ML infrastructure and networking equipment.
The company also supplies lasers used in semiconductor, display, EV and battery manufacturing markets.
REX and Tuttle noted that investing in the funds is not equivalent to investing directly in ASTS or LITE shares.
Why ASTS And LITE Matter
AST SpaceMobile shares climbed Thursday supported by optimism around a reported $1.2 billion satellite broadband initiative backed by AT&T and Verizon, alongside a new carrier-led direct-to-device connectivity venture. Further, the company said its first BlueBird Block 2 satellites are headed to Cape Canaveral for a mid-June launch, possibly easing concerns over deployment delays and advancing its space-based mobile broadband ambitions.
Meanwhile, Lumentum stock gained momentum following Nvidia Corp's strong earnings posted on Wednesday, which reinforced confidence in the AI infrastructure boom. Lumentum’s own record fiscal Q3 2026 results, with revenue surging 90% year over year to $808.4 million and non-GAAP EPS reaching $2.37, while guiding for even stronger Q4 growth, were also an added boost. Additional tailwinds included its recent Nasdaq-100 inclusion and a new stake from Tiger Global Management worth about $132 million.
Bottom Line
The launches arrive as investor appetite for leveraged and thematic ETFs continues to climb, particularly around AI infrastructure and next-generation connectivity plays. REX and Tuttle said the products are aimed at traders seeking amplified exposure to two closely watched technology themes: satellite-based mobile broadband and the optical backbone supporting AI and cloud computing demand.
The rollout further expands the T-REX ETF suite, which now includes more than 40 leveraged and inverse single-stock ETFs, including products tied to Robinhood Markets Inc, Nvidia Corp and Tesla, Inc.
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