Key Points
- REX Shares launches a fund that provides exposure to convertible bonds by companies with BTC in treasuries.
- BMAX is the first ETF of this kind, making investments in strategies similar to the one of Strategy₿ easier.
REX Shares announced the launch of an original type of ETF related to Bitcoin today.
REX Shares is an ETP provider specializing in alternative-strategy ETFs and ETNs.
REX Shares Launches BMAX ETF Offering
In an official press release, REX announced the launch of the REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX), an original fund offering exposure to convertible bonds issued by companies that already have a Bitcoin treasury.
The firm mentioned Michael Saylor’s strategy of buying Bitcoin, highlighting that public companies started using convertible bonds to finance their BTC purchases for their treasury.
Following MicroStrategy, now known as Strategy₿, multiple companies including Metaplanet have followed in Saylor’s footsteps. In December, reports said that Amazon could create a BTC Reserve as well.
Saylor announced the launch via an X post earlier, highlighting BMAX’s benefits.
$BMAX is the first ETF giving retail investors and investment advisors access to convertible bonds issued by companies integrating Bitcoin into their financial strategy. – @GregoryDKing , CEO of REX Financial
— Michael Saylor⚡️ (@saylor) March 14, 2025
Simplifying Access to Convertible Bonds for BTC Purchases
REX’s BMAX has the following features, according to the official release :
- Simplifies access to convertible bonds via a single actively managed ETF
- Focuses on issuers like Strategy₿, Saylor’s Bitcoin-backed convertible debt firm
- Provides a blend of debt stability and equity upside
- Offers investors exposure to companies leveraging BTC and the benefits of convertible bonds
CEO of REX, Greg King, stated that BMAX is the first ETF that gives retail investors and investment advisors access to convertible bonds issued by companies that included BTC in their corporate treasuries.
He highlighted that so far, such bonds were not easy to reach by investors but BMAX will remove these barriers, making investments in BTC strategies easier, while leveraging corporate debt to buy BTC as a treasury asset.
BMAX aims to provide a streamlined regulated way to engage with the market and obtain indirect exposure to Bitcoin in a more conservative way, rather than via direct ownership.
The move made by REX Shares consolidates the already growing institutional interest in BTC and related products.
