Trump ally’s firm aims to launch Bitcoin bond ETF
The Strive Bitcoin Bond ETF aims to invest in convertible bonds from companies heavily invested in Bitcoin, such as MicroStrategy, which has financed its $27 billion Bitcoin holdings through these instruments.
Strive, the asset management firm founded by Vivek Ramaswamy has filed a request with US regulators to list an ETF focusing on Bitcoin bonds. The proposed fund, called the Strive Bitcoin Bond ETF, will invest in convertible bonds from companies like MicroStrategy and others that allocate significant resources to Bitcoin purchases.
MicroStrategy, a pioneer in corporate Bitcoin investment, has used convertible bonds to fund its $27 billion Bitcoin holdings since 2020. These bonds, paying little to no interest, can convert into company shares under specific conditions. Strive’s ETF aims to offer exposure to similar instruments and will actively manage investments, potentially using financial derivatives like swaps and options.
The filing comes amid a surge in interest in crypto-focused ETFs, with corporate treasuries holding over $56 billion worth of Bitcoin. Analysts predict that Trump’s recent presidential win and his pro-crypto regulatory plans could pave the way for wider adoption of crypto ETFs in the financial market.
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