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Highlights
- Vivek Ramaswamy's Strive files for Bitcoin Bond ETF with the US SEC.
- This latest filing could significantly boost BTC's appeal among investors.
- BTC price gains notable traction as it hovers around the brief $100K mark.
Strive Asset Management, co-founded by Vivek Ramaswamy, has recently filed an application for a novel Bitcoin Bond ETF. Notably, the proposed Strive Bitcoin Bond ETF aims to invest in derivatives such as swaps and options. If approved, this ETF could further boost BTC appeal by increasing institutional investment and demand. Having said that, the US SEC’s decision on the application is eagerly awaited by market participants.
Vivek Ramaswamy’s Strive Files For Bitcoin Bond ETF Launch
Vivek Ramaswamy’s Strive Asset Management has officially taken a step to advance the launch of the Bitcoin Bond ETF with its recent SEC filing. Notably, the offering will come as a new exchange-traded fund that will invest in bonds issued by companies like MicroStrategy that purchase BTC.
Strive Bitcoin Bond ETF will invest in swaps and options, among other derivatives. The new Bitcoin Bond ETF will utilize investments to target most of the companies that buy Bitcoin. Notably, the filing rides the back of registration statements under the Securities Act of 1933 and the Investment Company Act of 1940.
This development also comes as corporations have shifted their focus towards Bitcoin buying. Besides, a flurry of companies and global leaders are exploring opportunities for BTC Strategic Reserve. For context, MicroStrategy has recently acquired 1,070 BTC, highlighting its growing interest in the flagship crypto.
Meanwhile, the move to advance the launch of Bitcoin Bond ETF has sparked speculation about the rise in the price of BTC. Other factors like the involvement of Vivek Ramaswamy, Donald Trump’s election win, and the growing adoption of cryptocurrencies are also contributing to the bullish speculation surrounding BTC.
Will It Impact BTC’s Value Ahead?
BTC price today was up by 1.69% to $99,130 while noting a surge of 6% in the last 7 days. Its market cap and trading volume soared by 1.35% and 56.73% to $1.96 trillion and $30.28 billion, respectively.
BTC Futures Open Interest, according to Coinglass data, has surged by 13%. This signals that the overall sentiments are bullish. Besides, the market is keeping close track of the flagship crypto as it hovers around the brief $100K mark.
Meanwhile, Vivek Ramaswamy’s Strive Asset Management advancing the launch of this Bitcoin ETF is a positive move not only for BTC but for the entire crypto ecosystem. For context, US Spot Bitcoin ETFs have contributed the most inflows into digital assets in 2024, according to CoinShares reported. However, the report also noted that XRP reigns supreme among other digital assets in last week’s money flow.
Having said that, the Bitcoin Bond ETF, if gets approved, could further push the price of the crypto higher. However, investors should exercise due diligence, given the volatile nature of the crypto market.
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