Strive, founded by Trump ally, requests approval for bitcoin bond ETF with MicroStrategy bonds
Strive, founded by Trump ally, requests approval for bitcoin bond ETF with MicroStrategy bonds
Asset management firm Strive, founded by Vivek Ramaswamy, has filed a request with U.S. regulators to launch the Strive Bitcoin Bond ETF. The proposed actively managed fund will offer exposure to convertible bonds issued by MicroStrategy and other corporations allocating substantial resources to Bitcoin purchases.
The ETF’s primary focus is on “Bitcoin Bonds,” which are convertible securities linked to companies heavily investing in Bitcoin. MicroStrategy, a trailblazer in corporate Bitcoin acquisition, has accumulated approximately $27 billion worth of Bitcoin since 2020. Spearheaded by co-founder Michael Saylor, the company financed these purchases through a combination of stock issuance and convertible bonds.
MicroStrategy’s stock (MSTR) has soared over 2,200% since the adoption of this strategy, far outpacing most public companies except Nvidia. Following MicroStrategy’s lead, corporate treasuries now collectively hold around $56 billion worth of Bitcoin, according to BitcoinTreasuries.net.
Ramaswamy’s vision and Trump connection
Strive’s founder Vivek Ramaswamy, an ally of President-elect Donald Trump, has positioned his asset management firm as a champion of capitalistic empowerment. While he initially campaigned against Trump in the Republican primaries, Ramaswamy later endorsed the President-elect and assumed a prominent role in his administration’s transition efforts.
Industry analysts believe Trump’s presidency could accelerate the approval of crypto ETFs in the U.S., with several proposals already awaiting regulatory clearance. Trump's appointments, including former PayPal COO David Sacks as “AI and crypto czar” and Paul Atkins as SEC chair, indicate a pro-crypto stance.
The Strive Bitcoin Bond ETF reflects growing interest in integrating cryptocurrency into mainstream investment vehicles. By targeting convertible bonds and corporate Bitcoin strategies, the fund aims to offer investors diversified exposure to the crypto sector while capitalizing on market momentum. If approved, this ETF could pave the way for broader adoption of innovative financial products tied to Bitcoin and other digital assets.
In addition, Trump explores bypassing the Fed to establish a Bitcoin strategic reserve.
