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One of the most important figures in American politics is launching a new ETF. And it’s focused on a new way to get exposure to Bitcoin.
What’s happening:
- Republican political leader Vivek Ramaswamy’s asset management company Strive has filed for a Bitcoin Bond ETF with the United States Securities and Exchange Commission
Why it matters:
- The new Bitcoin Bond ETF from Strive Asset Management differs significantly from existing spot Bitcoin ETFs and is looking to purchase convertible bonds in publicly traded companies that are raising debt to purchase more Bitcoin
Going deeper:
- This is also not the first foray that Strive Asset Management has made into Bitcoin, previously launching a wealth management arm for individuals that provides exposure to Bitcoin
- Cantor Fitzgerald led the most recent Series B financing round for Strive Asset Management and has also been on the leading edge of pushing Bitcoin adoption into the traditional public markets, including even rolling out new ways to use Bitcoin as collateral for loans
The intrigue:
- Vivek Ramaswamy has also been very outspoken about the need for free speech and censorship free media, which notably led him to becoming a large shareholder in Rumble (NASDAQ: RUM) and even BuzzFeed (NASDAQ: BZFD)
