Strive Asset Management has applied to the United States regulators to introduce a new exchange-traded fund (ETF) focused on “Bitcoin Bonds”.
According to a filing on December 26, the ETF would invest in convertible bonds issued by companies like MicroStrategy, which allocate large amounts of funds to Bitcoin
Founded in 2022 by Vivek Ramaswamy, who is known for his support of Donald Trump, Strive emphasizes leveraging the power of capitalism to create financial opportunities.
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The proposed fund would actively manage its investments, gaining exposure to "Bitcoin Bonds" either directly or through derivatives such as swaps and options.
While Strive has not disclosed its management fees, actively managed ETFs generally charge higher fees compared to passive funds.
Convertible bonds, like those issued by MicroStrategy, typically offer little or no interest but can convert into company shares under specific conditions.
Strive’s Bitcoin Bond ETF aims to tap into this growing trend, offering investors exposure to companies heavily invested in Bitcoin.
As Strive awaits regulatory approval for its Bitcoin Bond ETF, other firms are also making progress in the crypto investment sector. Franklin Templeton and Hashdex recently secured SEC approval for their Bitcoin and Ethereum
