#Novedades REX Shares, an exchange-traded fund (ETF) provider with over USD 6.000 billion in assets under management (AUM), launched its Bitcoin Corporate Treasury Convertible Bond ETF
BTC
78.026 €
(BMAX) that invests in convertible bonds of companies with a corporate BTC reserve strategy.
According to the announcement on March 14, the ETF will purchase convertible bonds from companies like Strategy. Convertible bonds are commercial paper that can be converted into shares at a predetermined rate if the investor so decides.
Typically, these convertible bonds are acquired by institutional investors, including pension funds, some of which specialize in investing in convertible bonds. Greg King, CEO of REX Financial, has stated:
