Strive, a fund manager founded by Vivek Ramaswamy, has submitted a request to US regulators to list an exchange-traded fund (ETF) that will invest in convertible bonds issued by MicroStrategy and other companies that have bought corporate Bitcoin.
This application was made on December 26th, as stated in the filing. The ETF aims to provide investors with access to “Bitcoin Bonds,” which are convertible securities issued by MicroStrategy or other companies that have plans to use the proceeds to buy Bitcoin, as described in the filing.
According to Strive, the Strive Bitcoin Bond ETF will be actively managed and will gain exposure to “Bitcoin Bonds” through direct investment or through financial derivatives such as swaps and options.
The specific management fee for investors has not been disclosed yet; however, actively managed funds typically have higher fees compared to passive index funds.
