Rex Pares launched a first stock market fund (ETF), a first convertible stock market fund (ETF), allowing investors an exposure to the convertible debt issued by companies to add Bitcoin to their balance sheet.
Called Rex Bitcoin Corporate Treasury Convertible Bond Etf (BMAX), the fund is necessarily mainly composed of a convertible document issued by the strategy of Michael Saylor (MSTR), by far the greatest transmitter of such a debt. The other TOP 10 include the convertible notes of Bitcoin Miners Digital (Mara) and Riot Platforms (Riot).
“Until now, these obligations have been difficult to achieve for individual investors,” Greg King, CEO of Rex Financial said in a statement. “BMAX removes these obstacles, which facilitates investment in the strategy launched by Michael Saylor – taking advantage of business debt to acquire bitcoin as an actor.”
The fund has been officially launched today and is negotiated on the Nasdaq. It has a gross expenditure ratio of 0.85% and was sown with $ 25 million in assets.
FNB shares are higher at the start of negotiations, because Bitcoin joined a hollow overnight of about $ 80,000 to more than $ 84,000.
