REX Debuts Bitcoin Corporate Treasury Convertible Bond ETF
REX Shares has launched BMAX, a groundbreaking ETF that provides investors with access to convertible bonds issued by companies leveraging debt to buy Bitcoin—with MicroStrategy (MSTR) as its largest holding.
A New Way to Invest in Bitcoin-Linked Debt
The REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX) is designed to track convertible bonds from firms that have strategically added Bitcoin to their balance sheets.
As the biggest issuer of such debt, MicroStrategy dominates BMAX’s portfolio, alongside convertible notes from Bitcoin mining companies like Marathon Digital (MARA) and Riot Platforms (RIOT).
Bringing a Niche Investment to the Mainstream
“These bonds have historically been difficult to access,” said Greg King, CEO of REX Financial. “BMAX eliminates those barriers, making it easier for investors to gain exposure to Bitcoin-focused corporate strategies.”
ETF Launch Details & Market Reaction
- Trades on Nasdaq, featuring a 0.85% gross expense ratio and $25 million in initial assets.
- BMAX shares moved higher in early trading, supported by Bitcoin’s rebound from $80,000 to over $84,000 overnight.
With BMAX, REX is giving investors a new way to participate in Bitcoin-driven financial strategies, expanding access to a market traditionally reserved for institutions.
