Endeavor Asset Management, founded by Vivek Ramaswamy, filed an application with US regulators to launch a new exchange-traded fund (ETF) designed to provide exposure to “bitcoin securities,” according to Dec. 26. has done file filing.
Strive Bitcoin Bond ETF is a convertible bond issued by companies such as Microstrategy who have invested a significant part of their capital in Bitcoin (Bitcoin). These companies use the income of these bonds Buy Bitcoin
Bitcoin Bond ETF
The fund will be actively managed and its exposure to Bitcoin bonds will be obtained either directly or through financial instruments such as swaps and options. Although management fees are not disclosed, active funds typically charge higher fees than passively managed funds.
Led by co-founder Michael Seiler, MicroStrategy began buying Bitcoin in 2020 as part of the company's treasury strategy. The company has since spent about $27 billion buying bitcoin, a move that has sent its stock, MSTR, up more than 2,200 percent, outperforming nearly every other major public company, including Nvidia.
This company has financed Buy Bitcoin Through a combination of issuing new shares and convertible bonds. These bonds usually offer little or no interest but can be converted into shares under certain conditions. Other companies have followed suit, and according to BitcoinTreasuries.net, corporate coffers currently hold around $56 billion worth of bitcoins.
favorable environment
Ramaswamy, a staunch supporter of the President-elect Donald Trumpfounded Strive in 2022 to help investors reap the benefits of venture capital. Although Ramaswamy first ran in the Republican presidential primary, he later endorsed Trump.
Stereo's approach aims to provide investors with innovative financial products that align with Ramaswamy's broader goals of disrupting traditional industries. The filing for the Strive Bitcoin Bond ETF comes as industry experts predict the Trump administration will support a more favorable regulatory environment for cryptocurrencies.
After Trump wins the November election, the US crypto industry is expecting Key regulatory changesIncluding the appointment of figures such as David Sachs, the former CEO of PayPal, as the “czar of artificial intelligence and digital currencies”.
The filing is part of a broader trend, as several asset managers have sought approval for various crypto-based ETFs, including those that offer exposure to altcoins such as Solana, XRP and Litecoin. These filings show the growing interest in cryptocurrency-based investment vehicles in the wake of regulatory changes.
