Strive, linked to Trump, submits application for a "Bitcoin Bonds" ETF
The fund seeks to provide exposure to convertible bonds from MicroStrategy, among others.
Strive, an asset manager founded by Vivek Ramaswamy, has requested permission from U.S. regulators to list an exchange-traded fund (ETF) that invests in convertible bonds issued by MicroStrategy and other corporate buyers of Bitcoin BTC €91,901, according to a filing on December 26.
The ETF seeks to provide exposure to "Bitcoin Bonds," described as "convertible securities issued by MicroStrategy" or by other companies that plan to "invest all or a significant portion of their revenue in the purchase of Bitcoin," according to the filing.
The Strive Bitcoin Bond ETF will be actively managed and will gain exposure to "Bitcoin Bonds" either directly or through financial derivatives, such as swaps and options, Strive indicated.
Strive has not yet specified the management fee that will be charged to investors, but actively managed funds typically charge more than passive index funds.