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Strive Asset Management, a firm founded by Vivek Ramaswamy, submitted a request with United States regulators to launch an exchange-traded fund (ETF) to provide exposure to Bitcoin bonds, according to a Dec. 26 filing.
The Strive Bitcoin Bond ETF will invest in bonds issued by companies such as MicroStrategy and other corporate Bitcoin buyers. Additionally, the fund seeks to get exposure to “convertible securities issued by MicroStrategy” or other companies that plan to “invest all or a significant portion of the proceeds to purchase Bitcoin,” according to the filing.
Strive has not yet disclosed the management fees for the Bitcoin Bond ETF. However, actively managed funds have higher fees than passive index funds.
MicroStrategy’s Bitcoin Journey: $27 Billion Invested Since 2020
Since 2020, MicroStrategy has allocated approximately $27 billion towards its Bitcoin strategy. MicroStrategy has financed its Bitcoin purchases by issuing new stock and convertible bonds. Recently, the company announced issuing 11 billion shares to boost its Bitcoin buying strategy.
Similarly, other companies have been buying Bitcoin, with corporate treasuries now holding more than $56 billion worth of BTC, according to BitcoinTreasuries.NET.
Vivek Ramaswamy Has Connections With Donald Trump And Elon Musk
Ramaswamy founded Strive in 2022, an asset management firm that helps investors “harness the power of capitalism.”
In 2023, Ramaswamy, who earned most of his $1 billion net worth through founding the biotechnology startup Roivant Sciences, initially campaigned against US President-elect Donald Trump. Later, he endorsed the incoming President.
America-First means we want America to WIN. Playing for second place doesn’t cut it. https://t.co/ZsdMx4aRux
— Vivek Ramaswamy (@VivekGRamaswamy) December 25, 2024
Industry analysts believe Trump’s presidential victory signals a green light for more than half a dozen proposed crypto ETFs awaiting regulatory approval to list in the US.
Ramaswamy has also teamed up with Elon Musk as a leader of the Department of Government Efficiency, a private initiative for cutting wasteful government spending.
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