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According to the documents submitted on December 26, the asset management company Strive, founded by Vivek Ramaswamy (the guy who was the main character in the usual blunder incident last time), has applied to the U.S. regulatory agency to list an ETF that will invest in Bitcoin convertible bonds issued by MicroStrategy and other companies.

These bonds, known as "Bitcoin bonds," are convertible securities issued by MicroStrategy or other companies that plan to use the proceeds primarily to purchase Bitcoin. The Strive Bitcoin Bond ETF will take an active management approach, directly or through financial derivatives (such as swaps and options) to engage with these "Bitcoin bonds." Although Strive has not yet specified the management fees that investors will need to pay, active management fund fees are typically higher than those of passive index funds.

Vivek Ramaswamy is a outspoken supporter of the elected U.S. President Trump, who founded Strive Asset Management in 2022. In November of this year, Trump announced that Ramaswamy would lead the Department of Government Efficiency (referred to as DOGE) alongside Tesla founder Musk, which is a private initiative aimed at reducing wasteful government spending.