Strive Asset Management Unveils Bitcoin Bond ETF Targeting Crypto-Driven Companies

Strive Asset Management is preparing to launch an exchange-traded fund (ETF) that will invest in bonds issued by companies financing Bitcoin purchases, according to a regulatory filing.

The ETF, named the Strive Bitcoin Bond ETF, has been registered with the Securities and Exchange Commission. It is actively managed and will gain exposure to Bitcoin through convertible securities issued by companies expected to allocate a substantial portion of their proceeds toward purchasing Bitcoin. The fund will also use derivatives such as swaps and options, as noted in the filing.

The filing highlights MicroStrategy, a software company that adopted Bitcoin as its primary Treasury reserve asset in 2020 and has since invested over $27 billion in the cryptocurrency. This strategy has resulted in a significant surge in its share price, which is up nearly 600% over the past year.

Strive anticipates that at least 80% of the New York-listed ETF’s notional exposure will focus on “Bitcoin bonds” issued by MicroStrategy and similar companies, according to the filing.

Matthew Cole, chief executive and chief investment officer at Strive, will manage the fund alongside portfolio managers Jeffrey Sherman and Randol Curtis, who also serves as Strive’s wealth management chief investment officer.

Strive’s public profile has gained momentum since last month’s U.S. presidential election, with co-founder and majority owner Vivek Ramaswamy being a prominent supporter of President-elect Donald Trump. Ramaswamy is set to lead a newly formed department of government efficiency alongside Tesla CEO Elon Musk, following Trump’s inauguration.