Strive Asset Management, a company co-founded by Vivek Ramaswamy, announced plans for an exchange-traded fund on Thursday that would seek exposure to convertible securities issued by companies investing in Bitcoin (CRYPTO: BTC).
What Happened: The proposed ETF, named the Strive Bitcoin Bond ETF, aims to expose investors to the growing “Bitcoin bond” market, leveraged by companies like MicroStrategy Inc. (NASDAQ:MSTR) to fund Bitcoin acquisitions, an SEC filing showed.
“Under normal circumstances, at least 80% of the notional exposure of the Fund (through securities and financial instruments) will be to Bitcoin Bonds,” the filing read.
Strive said that the fund will treat convertible debt as equity securities, despite the instruments having some attributes of debt securities.
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Full story available on Benzinga.com