A new move came from co-chair Vivek Ramaswamy, who supported Donald Trump during the election process and subsequently managed the Department of Productivity of the US Government with Elon Musk (DOGE) , regarding Bitcoin (BTC).
Accordingly, Vivek Ramaswamy’s asset management company Strive Asset has filed a new spot Bitcoin ETF application with the SEC.
The fund named ‘Strive Bitcoin Bond ETF’ aims to invest in convertible bonds of companies like MicroStrategy to buy Bitcoin.
Strive said that the company expects at least 80% of the nominal exposure of the ETF listed in New York to be in ‘Bitcoin bonds’ issued by MicroStrategy and other companies.
Strive announced the establishment of a new asset management unit that integrated Bitcoin into client portfolios last November.
As it is known, in January 2024, the SEC approved spot Bitcoin ETFs. Accordingly, the SEC approved 11 spot bitcoin ETFs, including BlackRock, Vanguard, Franklin Templeton, Valkyre, Fidelity, and Invesco.
While this approval is seen as a milestone for the crypto market, the approval of altcoin ETFs such as Solana (SOL), XRP, and Litecoin (LTC) is also expected with Donald Trump’s new administration, apart from Bitcoin and Ethereum.
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