Markets, ETFs Convertible debt from Michael Saylor’s Strategy contains nearly all of the REX Bitcoin Corporate Treasury Convertible Bond ETF holdings.
REX Shares has launched a first-of-its-kind convertible-bonds exchange-traded fund (ETF), permitting traders publicity to the convertible debt issued by corporates so as to add bitcoin to their steadiness sheet.
Called the REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX), the fund is essentially largely made up of convertible paper issued by Michael Saylor’s Strategy (MSTR), by far the biggest issuer of such debt. Other prime 10 holdings embody the convertible notes of bitcoin miners Marathon Digital (MARA) and Riot Platforms (RIOT).
“Until now, these bonds have been difficult for individual investors to reach,” stated Greg King, CEO of Rex Financial, in a statement. “BMAX removes those barriers, making it easier to invest in the strategy pioneered by Michael Saylor — leveraging corporate debt to acquire Bitcoin as a treasury asset.”
The fund formally launched in the present day, and trades on the Nasdaq. It has a gross expense ratio of 0.85% and was seeded with $25 million in belongings.
Shares of the ETF are increased in early buying and selling as bitcoin has rallied from an in a single day low of round $80,000 to above $84,000.
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