REX Shares has introduced an innovative exchange-traded fund (ETF) that focuses on convertible bonds, giving investors access to corporate convertible debt that funds the acquisition of bitcoin for corporate treasuries.
The ETF, named the REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX), primarily consists of convertible securities issued by Michael Saylor’s company, MSTR, which is the largest provider of such bonds. Notable holdings also include convertible notes from leading bitcoin mining firms like Marathon Digital (MARA) and Riot Platforms (RIOT).
“Previously, these bonds have been challenging for individual investors to access,” stated Greg King, CEO of Rex Financial. “BMAX breaks down these barriers, facilitating investment in the strategy pioneered by Michael Saylor — utilizing corporate debt to accumulate Bitcoin as a treasury resource.”
The fund was formally launched today and is listed on the Nasdaq, featuring a gross expense ratio of 0.85% and an initial asset base of $25 million.
In early trading, shares of the ETF have gained ground as bitcoin experienced a surge from a low of approximately $80,000 to over $84,000.