Rex Shares has launched the Bitcoin Corporate Treasury Convertible Bond (BMAX) ETF.
The fund, announced on March 14th, will target companies that incorporate Bitcoin into their corporate finances. In recent years, public companies have been increasingly turning into convertible memos to raise funds for BTC purchases.
Under Executive Director Michael Saylor, the strategy pioneered this approach and acquired a large portion of its holdings of 499,096 BTC through convertible bond issuance. Other companies, including Metaplanet, are following along.
Bmax simplifies access to these bonds by packaging them into a single, actively managed ETF. The fund focuses on key issuers such as strategies and provides a structured way for investors to be exposed to this market.
ETFs aim to balance debt security with potential stock rises. This structure allows investors to benefit from companies that utilize BTC as part of their financial strategy, while taking advantage of the benefits of convertible bonds.
By providing a regulated investment vehicle, BMAX removes the complexity of raising individual bonds or managing ownership directly on BTC. Investors can engage in this market in a more controlled way without dealing with the volatility of holding Bitcoin directly.
Rex Financial CEO Greg King described BMAX as the first ETF to provide access to convertible bonds tied to the company BTC Holdings.
He said that although individual investors have previously faced hurdles in reaching these bonds, BMAX has eliminated these barriers and made it easier to participate in corporate strategies to use debt to acquire Bitcoin.
This ETF will be participating in an increasing list of Bitcoin-related financial products that do not require direct ownership of Bitcoin. It follows the recent launch of Bitcoin Mining Stock and the Ministry of Finance’s support for ETFs focused on Bitcoin investment.
The expansion of these products reflects Bitcoin’s growing presence in traditional financial situations, highlighting investment opportunities beyond spot Bitcoin ETFs.
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