On March 14, 2025, REX Shares launched the REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX), aimed at democratizing access to convertible senior notes from companies like Strategy (formerly MicroStrategy). This ETF, debuting on the Nasdaq with $24.8 million in assets, offers exposure primarily to Strategy's debt instruments, which make up 81% of the fund. These convertible senior notes can be converted into shares if the corresponding company’s stock price rises, and REX emphasizes that individual investors have previously struggled to access such products. The fund is actively managed and could allocate up to 20% of its assets in stocks from firms using Bitcoin as a treasury asset. This move highlights REX's commitment to providing innovative investment opportunities in the Bitcoin space, especially as it seeks regulatory approval for additional crypto-related ETFs, including those focusing on meme coins and Ethereum layer-2 solutions.

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