Trump-related asset management firm Strive applies for “Bitcoin Bond” ETF

PANews reported on December 27 that according to a document submitted on December 26, Strive, an asset management company founded by Vivek Ramaswamy, has applied to U.S. regulators to list an ETF that will invest in MicroStrategy and other corporate offerings. of Bitcoin convertible bonds. The bonds, known as "Bitcoin Bonds," are convertible securities issued by MicroStrategy or other companies that plan to use the proceeds primarily to purchase Bitcoin. The Strive Bitcoin Bond ETF will be actively managed, with exposure to these “Bitcoin Bonds” either directly or through financial derivatives such as swaps and options. Although Strive hasn't clarified the management fees that investors will pay, fees for actively managed funds are generally higher than for passive index funds.

Vivek Ramaswamy, an outspoken supporter of US President-elect Trump, founded Strive Asset Management in 2022. In November of this year, Trump announced that Ramaswamy would join Tesla founder Musk to lead the Department of Government Efficiency (DOGE), a private initiative aimed at cutting wasteful government spending.

According to previous news in November, asset management company Strive established a wealth management department and included Bitcoin in its standard investment portfolio .