Bitcoin-Backed Convertible Bond ETF Debuts on the Market

REX Unveils Bitcoin Corporate Treasury Convertible Bond ETF

REX Shares has launched a new ETF offering exposure to convertible bonds issued by companies accumulating Bitcoin, with MicroStrategy (MSTR) leading its holdings.

A New Avenue for Bitcoin-Linked Debt Investments

The REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX) allows investors to access convertible debt issued by firms leveraging corporate borrowing to acquire Bitcoin.

Given MicroStrategy’s dominant role in this strategy, its convertible bonds make up the majority of BMAX’s portfolio. The ETF also holds notes from Bitcoin miners like Marathon Digital (MARA) and Riot Platforms (RIOT).

Expanding Access to a Niche Market

“These bonds have traditionally been out of reach for retail investors,” said Greg King, CEO of REX Financial. “BMAX removes those barriers, giving investors access to a corporate strategy centered on Bitcoin accumulation.”

Key ETF Details & Market Response

• Trades on Nasdaq, with a 0.85% gross expense ratio and $25 million in initial assets.
• ETF shares rose in early trading, fueled by Bitcoin’s rally from $80,000 to over $84,000 overnight.

By launching BMAX, REX is bridging traditional fixed-income markets with Bitcoin-focused corporate strategies, offering investors a unique way to gain exposure to Bitcoin-driven financial instruments.