3 months ago
REX Shares has launched a first-of-its-kind convertible-bonds exchange-traded money (ETF), allowing investors vulnerability to the convertible indebtedness issued by corporates to adhd bitcoin to their equilibrium sheet.
Called the REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX), the money is needfully mostly made up of convertible insubstantial issued by Michael Saylor's Strategy (MSTR), by acold the largest issuer of specified debt. Other apical 10 holdings see the convertible notes of bitcoin miners Marathon Digital (MARA) and Riot Platforms (RIOT).
“Until now, these bonds person been hard for idiosyncratic investors to reach,” said Greg King, CEO of Rex Financial, successful a statement. “BMAX removes those barriers, making it easier to put successful the strategy pioneered by Michael Saylor — leveraging firm indebtedness to get Bitcoin arsenic a treasury asset.”
The money officially launched today, and trades connected the Nasdaq. It has a gross disbursal ratio of 0.85% and was seeded with $25 cardinal successful assets.
Shares of the ETF are higher successful aboriginal trading arsenic bitcoin has rallied from an overnight debased of astir $80,000 to supra $84,000.
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