According to TechFlow news on December 27, as reported by Cointelegraph, Strive Asset Management, an asset management company founded by Vivek Ramaswamy, has applied to the U.S. SEC for a listed exchange-traded fund (ETF) that will invest in convertible bonds issued by MicroStrategy and other Bitcoin companies.
"Bitcoin Bonds" are described as "convertible securities issued by MicroStrategy" or other companies that plan to "invest all or most of the proceeds in purchasing Bitcoin."
Strive stated that the Strive Bitcoin Bond ETF will be actively managed and will have exposure to "Bitcoin Bonds" either directly or through financial derivatives such as swaps and options. Strive has not yet specified the management fees to be charged to investors, but actively managed funds typically have higher fees than passive index funds.
