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Strive Asset Management, a company founded by Vivek Ramaswamy, filed a order with US regulators to launch an exchange-traded fund (ETF) to provide exposure to bitcoin bonds, according to a December 26 filing.
The Strive bitcoin Bond ETF will invest in bonds issued by companies like MicroStrategy and other corporate buyers of bitcoin. Additionally, the fund seeks to gain 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 document.
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 Journey to bitcoin: $27 Billion Invested Since 2020
Since 2020, MicroStrategy has allocated approximately $27 billion to its bitcoin strategy. MicroStrategy has financed its bitcoin purchases by issuing new shares and convertible bonds. Recently, the company announced the issuance of 11 billion shares to boost its bitcoin purchasing strategy.
Similarly, other companies have been buying bitcoin, and corporate treasuries now hold more than $56 billion worth of btc, according to bitcoin.NET Treasures.
Vivek Ramaswamy has connections to Donald Trump and Elon Musk
Ramaswamy founded Strive in 2022, an asset management company that helps investors “harness the power of capitalism.”
In 2023, Ramaswamy, who earned the majority of his $1 billion net worth by founding biotech startup Roivant Sciences, initially campaigned against US President-elect Donald Trump. He later endorsed the incoming president.
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”6.8443113772455″>
America first means we want America to WIN. Playing for second place is not enough. https://t.co/ZsdMx4aRux
—Vivek Ramaswamy (@VivekGRamaswamy) <a target="_blank" href="https://twitter.com/VivekGRamaswamy/status/1871998821489942687?ref_src=twsrc%5Etfw”>December 25, 2024
Industry analysts believe Trump's presidential victory gives the green light to more than half a dozen proposed crypto ETFs awaiting regulatory approval to list in the US.
Ramaswamy has also partnered with Elon Musk as leader of the Department of Government Efficiency, a private initiative to reduce wasteful government spending.
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