REX Bitcoin Corporate Treasury Convertible Bond ETF

BMAX

Market cap $5.99M

A few weeks ago, I wrote this research note on how regulatory support for bitcoin and the broader crypto universe would be a game-changer for the crypto ETF industry. The past month has reinforced that view.

Rob Gronkowski, the retired football star with a goofy image, was described by a comedian as knowing better than to mess with bitcoin (except, maybe, to chew on it). Strategy (MSTR) understands and appreciates how valuable bitcoin can be as a permanent store of value. Speaking for myself, I see it as a 21st century digital collectible. MSTR buys and holds bitcoin through what it calls “intelligent leverage.” I see that as roughly akin to the leverage that Warren Buffett used to become an investment legend.

While crypto adoption will likely always be price-driven to some extent, regulatory and political tailwinds have driven a steady influx of launches throughout the year despite price volatility. We are not even halfway through 2025 and have already seen around 27 crypto ETF launches.

MIAMI--(BUSINESS WIRE)--REX Shares (“REX”), a leader in exchange-traded products, announces the launch of the REX Bitcoin Corporate Treasury Convertible Bond ETF (NASDAQ: BMAX), a first-of-its-kind fund that provides exposure to convertible bonds issued by companies actively incorporating Bitcoin into their corporate treasury. In a strategy pioneered by Michael Saylor, Chairman of Strategy (formerly MicroStrategy), public companies are increasingly using convertible bonds to finance Bitcoin pur.