Overview

REX Shares has introduced a groundbreaking exchange-traded fund (ETF) focused on convertible bonds, providing investors with a new avenue to access corporate debt linked to Bitcoin. The ETF, named REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX), primarily consists of convertible securities issued by MicroStrategy (MSTR), the leading issuer in this asset category.

Key Details

• Launch Date: The fund commenced trading on Nasdaq, boasting a 0.85% expense ratio and an initial asset base of $25 million.
• Holdings: Apart from Michael Saylor’s convertible debt, significant positions include convertible notes from Bitcoin mining firms such as Marathon Digital (MARA) and Riot Platforms (RIOT).

CEO Insights

“Until now, these bonds have been difficult for individual investors to reach,” noted Greg King, CEO of Rex Financial. He emphasized that BMAX is designed to eliminate investment obstacles, allowing access to corporate debt strategies aimed at acquiring Bitcoin as a treasury asset.

Market Impact

The launch has corresponded with an uptick in Bitcoin prices, with the cryptocurrency recovering from a low of approximately $80,000 to over $84,000 during early trading.