Tuttle, Tradr and REX announce further ETF closures, led by single-stock leveraged funds

Three ETF sponsors filed closure notices for leveraged and income funds in the week of 19 October.

T-REX

T-REX supplements dated 22 October give notice of closure for funds including the T-REX 2X Long AFRM Daily Target ETF (AFRU), the T-REX 2X Long ASTS Daily Target ETF (ASUP) and the T-REX 2X Long TE Daily Target ETF (TEUP). Each supplement says the Board of ETF Opportunities Trust approved a plan of liquidation on 20 October. AFRU, ASUP and TEUP list on Cboe BZX. AFRU began trading in September 2025; ASUP and TEUP began in May 2026.

The adviser, Tuttle Capital Management, recommended the closures because of the funds’ “limited prospects for meaningful future asset growth”, the ongoing cost of running them and its wish to stop subsidising expenses. The funds close to new investment and delist at the close of regular trading on 3 November, with liquidation on or about 12 November.

Tradr

The Board of Investment Managers Series Trust II approved liquidation plans for the Tradr 2X Long SK hynix Daily ETF (SKHA) and the Tradr 2X Short SK hynix Daily ETF (SKHN), which are advised by AXS Investments. Their last day of trading on Cboe BZX is 5 November, with liquidation on or about 12 November. The same trust had announced the closure of the Tradr 2X Long CPNG Daily ETF (CPNX) in a supplement dated 1 October.

REX

REX ETF Trust will close The Laddered T-Bill ETF and the REX IncomeMax Option Strategy ETF on the recommendation of REX Advisors. Trading is to be halted at the close of business on 6 November, and the funds will liquidate after the close on 13 November. The supplement says IncomeMax will stop running its strategy, including its options strategy, at the close on 23 October and pay its final regular weekly distribution that day. The adviser has also voluntarily agreed to waive its management fee for IncomeMax from 23 October until liquidation.

Why it matters

AFRU, ASUP, TEUP and both Tradr SK hynix funds are daily leveraged or inverse products linked to individual stocks. None of the supplements discloses fund assets, and The Midpoint has not estimated any.

Added to The Midpoint on 31 October 2026, with the ETFs section. This article is dated to the event it describes; it was not published at the time.

Sources

• Supplement: T-REX 2X Long AFRM Daily Target ETF (AFRU), ETF Opportunities Trust via SEC EDGAR, 22 Oct 2026
• Supplement: T-REX 2X Long ASTS Daily Target ETF (ASUP), ETF Opportunities Trust via SEC EDGAR, 22 Oct 2026
• Supplement: T-REX 2X Long TE Daily Target ETF (TEUP), ETF Opportunities Trust via SEC EDGAR, 22 Oct 2026
• Supplement: Tradr 2X Long and 2X Short SK hynix Daily ETFs, Investment Managers Series Trust II via SEC EDGAR, 20 Oct 2026
• Supplement: Tradr 2X Long CPNG Daily ETF, Investment Managers Series Trust II via SEC EDGAR, 1 Oct 2026
• Supplement: REX ETF Trust, REX ETF Trust via SEC EDGAR, 22 Oct 2026