Strive, an asset management firm founded by Vivek Ramaswamy, has filed with U.S. regulators to launch an exchange-traded fund (ETF) focused on convertible bonds issued by MicroStrategy and other companies involved in Bitcoin investments.
According to a Dec. 26 filing, the ETF, known as the Strive Bitcoin Bond ETF, aims to provide exposure to “bitcoin bonds,” which are convertible securities issued by firms such as MicroStrategy and use the proceeds to purchase Bitcoin.
The actively managed ETF invests directly in these bonds or uses financial derivatives such as swaps and options to gain exposure. Although Strive has not yet disclosed management fees, actively managed funds typically charge higher fees than passive index funds.
MicroStrategy, led by co-founder Michael Saylor, has spent about $27 billion buying Bitcoin since 2020, using a mix of new stocks and convertible bonds….
