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Strive Asset Management Files for Bitcoin Bond ETF Focused on MicroStrategy's Convertible Bonds, Targeting $56 Billion in BTC

Dec 26, 2024, 08:22 PM

Strive Asset Management, founded by Vivek Ramaswamy, has filed a registration statement with the Securities and Exchange Commission (SEC) for a new investment vehicle termed the 'Strive Bitcoin Bond ETF.' This ETF aims to provide investors with exposure to convertible bonds issued by MicroStrategy, a company known for its significant investments in Bitcoin. The fund will primarily focus on the convertible securities that MicroStrategy utilizes to finance its Bitcoin purchases. The filing indicates that this ETF is part of a broader strategy to democratize access to Bitcoin-related investment opportunities, which have traditionally been limited to institutional investors. The convertible bonds market for companies holding Bitcoin treasuries is estimated to be substantial, with corporate treasuries holding around $56 billion in Bitcoin. The ETF is still in the registration phase and has not yet become effective.