Vivek Ramaswamy’s Strive Asset Management plans to target Bitcoin-linked corporate bonds with its unusual change-traded fund.
Strive Asset Management, an asset and wealth manager primarily based by Vivek Ramaswamy, plans to initiate a brand unusual change-traded fund that can put money into bonds issued by companies to fund Bitcoin (BTC) purchases, the Monetary Times reports, citing a regulatory filing.
The fund, called the Strive Bitcoin Bond ETF, has been registered with the U.S. Securities and Alternate Price. Per the regulatory filing, the ETF will actively put money into bonds and use derivatives admire swaps and alternatives. These investments will target companies that use bond proceeds to love Bitcoin, the document reads.
The filing aspects out MicroStrategy as a key focal level, noting that the firm, primarily based by Michael Saylor, has invested over $27 billion in Bitcoin since 2020. Its MSTR fragment label has surged in terms of 600% in 2024.
Strive expects 80% of the ETF’s publicity to strategy inspire from “Bitcoin bonds” issued by MicroStrategy and related companies. Matthew Cole, Strive’s chief government will arrange the ETF. He’ll be joined by portfolio managers Jeffrey Sherman and Randol Curtis, the document reads.
Ramaswamy is a biotech entrepreneur turned asset manager and a vocal critic of “woke capitalism.” He co-primarily based Strive Asset Management to promote shareholder priorities over political agendas. Ramaswamy might per chance per chance be place apart to lead a brand unusual authorities effectivity department underneath Donald Trump, alongside Elon Musk, following Trump’s victory in the fresh U.S. presidential election.
