“Strive Asset Management has filed to launch an ETF focused on convertible bonds from MicroStrategy and other companies that have adopted a bitcoin strategy. The firm was founded by Vivek Ramasawamy, who, along with Elon Musk, will work at DOGE under the administration of US President-elect Donald Trump. The Strive Bitcoin Bond ETF will be actively managed. “Bitcoin bonds” will be accessed directly or through swaps and options. The size of the commissions is not specified. MicroStrategy Bitcoin Reserve Volume […]”, — write: businessua.com.ua
Strive Asset Management has filed to launch an ETF focused on convertible bonds from MicroStrategy and other companies that have adopted a bitcoin strategy.
He founded the company Vivek Ramasawamy, who, along with Elon Musk, will work at DOGE under the administration of US President-elect Donald Trump.
The Strive Bitcoin Bond ETF will be actively managed.
“Bitcoin bonds” will be accessed directly or through swaps and options. The size of the commissions is not specified.
MicroStrategy’s Bitcoin reserves have reached 444,262 BTC worth ~$83.5 billion at the time of writing.
On the acquisition of the first cryptocurrency since August 2020, the corporation spent ~$27.7 billion with an average purchase price of ~$62,257.
Despite a multi-fold increase in quotations and inclusion in the Nasdaq 100 index, MicroStrategy has been criticized for its strategy of creating shareholder value by accumulating bitcoin on its balance sheet, including through debt capital.
In October, the company unveiled the “21/21 Plan,” which aims to raise $42 billion over the next three years to buy digital gold.
On December 27, it became known about Bitwise’s plans to launch the Bitcoin Standard Company ETF.
Bitwise files for Bitcoin Standard Corporations ETF…
Would own stocks of companies that have adopted the “bitcoin standard”, which they define as holding at least 1,000 btc in corporate treasury.
The btc treasury operations virus is spreading. pic.twitter.com/me0XXX9a6g
— Nate Geraci (@NateGeraci) December 26, 2024
The structure will invest mostly in stocks of corporations that have added bitcoin as a backup asset.
For this, the following conditions are provided:
- a balance of at least 1000 BTC;
- market capitalization of at least $100 million;
- the average daily liquidity of securities is not less than $1 million;
- the minimum threshold of shares in free circulation is not less than 10%.
Currently, 22 companies meet the first criterion.
Companies holding > 1,000 btc…
via @HODL15Capital
h/t @Roubini18 pic.twitter.com/E91ky56iEI
— Nate Geraci (@NateGeraci) December 27, 2024
It will be recalled that only 0.55% of Microsoft shareholders approved the creation of a bitcoin reserve.
On December 8, a similar proposal was put forward to holders of Amazon equity securities.
Currently, only 0.01% of publicly traded companies in the world own the first cryptocurrency, according to OKG Research.
The source