Strive, an asset manager co-founded by Vivek Ramaswamy, has submitted a filing to U.S. regulators to list an ETF that will invest in convertible bonds issued by MicroStrategy and other firms purchasing Bitcoin. This ETF, called the Strive Bitcoin Bond ETF, aims to provide exposure to 'Bitcoin Bonds', which are convertible securities linked to significant Bitcoin investments by companies. Active management will allow the ETF to gain exposure to these bonds directly or through derivatives. MicroStrategy, a key player in Bitcoin purchases, has invested roughly $27 billion in Bitcoin since 2020, with its stock dramatically increasing in value. Ramaswamy, an ally of Donald Trump, formed Strive in 2022 and participated in the 2023 Republican primary before endorsing Trump. Following Trump's victory in 2024, there has been a surge in filings for ETFs tied to altcoins, and Trump has expressed intentions to support pro-crypto appointments in regulatory agencies.

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