Vivek Ramaswamy's Strive Applies For 'Bitcoin Bond' ETF That Tracks MicroStrategy's Convertible Securities Market
Vivek Ramaswamy's Strive Applies For 'Bitcoin Bond' ETF That Tracks MicroStrategy's Convertible Securities Market
Strive said that the fund will treat convertible debt as equity securities, despite the instruments having some attributes of debt securities.Strive Asset Management, a company co-founded by Vivek Ramaswamy, announced plans for an exchange-traded fund on Thursday that would seek exposure to convertible securities issued by companies investing in Bitcoin (CRYPTO: BTC).
Strive資產管理公司是由Vivek Ramaswamy共同創辦的，該公司週四宣佈計劃推出一隻交易所交易基金，旨在尋求對投資於比特幣（CRYPTO: BTC）公司的可轉證券的曝光。
What Happened: The proposed ETF, named the Strive Bitcoin Bond ETF, aims to expose investors to the growing "Bitcoin bond" market, leveraged by companies like MicroStrategy Inc. (NASDAQ:MSTR) to fund Bitcoin acquisitions, an SEC filing showed.
發生了什麼：擬議中的ETF名爲Strive比特幣債券ETF，旨在讓投資者接觸不斷增長的「比特幣債券」市場，這一市場由像MicroStrategy Inc.（納斯達克：MSTR）這樣的公司利用來資助比特幣收購，SEC的備案顯示。
"Under normal circumstances, at least 80% of the notional exposure of the Fund (through securities and financial instruments) will be to Bitcoin Bonds," the filing read.
備案中寫道：「在正常情況下，基金的名義敞口至少有80%（通過證券和金融工具）將投資於比特幣債券。」
Strive said that the fund will treat convertible debt as equity securities, despite the instruments having some attributes of debt securities.
Strive表示，儘管這些工具具有某些債券的屬性，但基金將可轉債視爲股票證券。
Why It Matters: The filing comes amid a growing trend of companies issuing convertible bonds to support their Bitcoin purchase strategy. Michael Saylor-led MicroStrategy has been the market leader, issuing these bonds at 0% interest.
重要性：此備案是在越來越多的公司發行可轉債以支持其比特幣購買策略的趨勢中進行的。由Michael Saylor領導的MicroStrategy一直是市場領頭羊，以0%的利率發行這些債券。
A convertible note is a hybrid instrument that can be exchanged for equity in the company at a later date. The conversion feature of these notes eventually helps the debt holders to benefit from the equity upside on conversion.
可轉債是一種混合工具，可以在以後轉化爲公司股票。這些債券的轉化特性最終使債權人能夠在轉化時受益於股票的上行。
The strategy has drawn a fair share of criticism, with analysts pointing out the risks of debt buyers not converting to shares before maturity.
該策略引發了一定程度的批評，分析師們指出，債務購買者在到期之前不轉化爲股票的風險。
Meanwhile, popular cryptocurrency analyst James Van Straten noted that Strive's filing meant "more vested interest" for Bitcoin to do well under the Trump administration.
與此同時，知名數字貨幣分析師James Van Straten指出，Strive的備案意味着在特朗普政府下比特幣的表現將有「更多的既得利益」。
Vivek Ramaswamy owns Strive with outside investment from the now Vice President J.D Vance.
— James Van Straten (@btcjvs) December 26, 2024
More vested interest for $BTC to do well from the Trump Administration.
Vivek Ramaswamy與現任副總統J.D Vance共同投資成立了Strive。
— James Van Straten (@btcjvs) 2024年12月26日
特朗普政府對比特幣的發展有更多的 vested interest。
Strive founder Ramaswamy was appointed by President-elect Donald Trump to lead the new Department of Government Efficiency along with tech mogul Elon Musk.
Strive創始人Ramaswamy被當選總統特朗普任命爲新成立的政府效率部負責人，此外還將與科技巨頭埃隆·馬斯克合作。
Ramaswamy's involvement in the cryptocurrency sector isn't new. During his run for the Republican presidential nomination, Ramaswamy advocated for reducing the Securities and Exchange Commission's reach and providing clarity in cryptocurrency regulation.
Ramaswamy在數字貨幣板塊的參與並不新鮮。在競選共和黨總統提名期間，Ramaswamy主張減少證券交易委員會的權力，並提供數字貨幣監管的明確性。
Price Action: At the time of writing, Bitcoin was exchanging hands at $96,007.97, down 2.65% in the last 24 hours, according to data from Benzinga Pro.
價格動態：截至寫作時，比特幣的交易價格爲96,007.97美元，在過去24小時內下跌了2.65%，數據來源於Benzinga Pro。
Photo: Gage Skidmore on flickr
照片: Gage Skidmore在flickr上
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譯文內容由第三人軟體翻譯。
