Strive Asset Management co-founded by Vivek Ramaswamy, a Republican has made headlines in the cryptocurrency industry. Strive has finally filed to launch a ‘Bitcoin Bond’ exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC). The firm’s bold entry into the Bitcoin ETF space signifies the rising connection between traditional finance and digital assets.

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Strive’s Entry Into The Bitcoin Bond Market

Source: Strive.com

According to the filing, the latest ETF will focus on company-issued bonds used to fund Bitcoin investments. It also notes that as part of the EA Series Trust, the ETF emphasizes Bitcoin bonds, which are assets such as swaps, options, and derivatives linked to firms highly focused on the king coin. After it garners a green signal, the ETF’s shares will be listed on the New York Stock Exchange (NYSE) and held by the Depository Trust Company. The fund is intended to fulfill regulated investment business standards and will release income weekly.

Strive’s latest ETF intends to invest at least 80% of its notional exposure in these specialized ‘Bitcoin bonds.’ Its approach allows for concentrated investments in specific issuers, and it can allocate more than 25% of its assets to the software and technology sectors.

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Looking Into Microstrategy’s Involvement

Michael Saylor’s MicroStrategy is a prominent name in the cryptocurrency industry. The firm has poured in more than $27 billion in the world’s largest cryptocurrency since establishing Bitcoin as its principal Treasury reserve asset in 2020. This further pushed its stock price upwards. The company’s shares have increased by over 600% in the last year. As a result, MicroStrategy has emerged as Strive’s key investment target.

Further speaking about Bitcoin, Strive wrote in a recent post,

“Since our inception, Strive has called out the long-term investment risks caused by the global fiat debt crisis, inflation, and geopolitical tensions. We strongly believe there is no better long-term investment to hedge against these risks than thoughtful exposure to Bitcoin.”

Amidst this, Bitcoin was priced at $99,603.53 after a 1.23% rise over the past 24 hours.

Source: CoinMarketCap

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  • bitcoin
  • crypto
  • cryptocurrency
  • ETF
  • Vivek Ramaswamy