REX Shares has launched the REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX), targeting debt securities from U.S. companies, particularly focusing on convertible bonds backed by Bitcoin. This ETF aims to provide retail investors access to these instruments which have been difficult for them to reach. Currently, 81% of BMAX is concentrated in products offered by Strategy, the largest corporate holder of Bitcoin. The ETF debuted on Nasdaq with $24.8 million in assets, and apart from Strategy’s convertible notes, it also includes similar offerings from Bitcoin miners. The active management of the fund allows it to invest up to 20% of its assets in equities linked to companies utilizing Bitcoin as a treasury reserve.

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