Strive Asset Management, co-founded by Vivek Ramaswamy, has filed an utility for a novel Bitcoin Bond ETF. The proposed Strive Bitcoin Bond ETF goals to spend money on derivatives similar to swaps and choices. If accepted, this ETF may additional enhance BTC attraction by rising institutional funding and demand. Having mentioned that, the US SEC’s determination on the appliance is eagerly awaited by market members.
Vivek Ramaswamy’s Strive Files For Bitcoin Bond ETF Launch
Vivek Ramaswamy’s Strive Asset Management has formally taken a step to advance the launch of the Bitcoin Bond ETF with its current SEC filing. It will come as a brand new exchange-traded fund that may spend money on bonds issued by corporations like MicroStrategy that buy Bitcoin tokens.
Strive Bitcoin Bond ETF will spend money on swaps and choices, amongst different derivatives. The new Bitcoin Bond ETF will make the most of investments to focus on a lot of the corporations that purchase Bitcoin.
This improvement additionally comes as firms have shifted their focus in direction of Bitcoin shopping for. Besides, a flurry of corporations together with the worldwide leaders are exploring alternatives for BTC Strategic Reserve. For context, MicroStrategy has recently acquired 1,070 BTC, highlighting its rising curiosity within the flagship crypto.
Meanwhile, the transfer to advance the launch of Bitcoin Bond ETF has sparked hypothesis concerning the rise within the worth of BTC. Other components just like the involvement of Vivek Ramaswamy, Donald Trump’s election win, and the rising adoption of cryptocurrencies are additionally contributing to the bullish hypothesis for BTC.
Will It Impact BTC’s Value Ahead?
BTC price today was up by 1.69% to $99,130, whereas noting a surge of 6% within the final 7 days. Its market cap and buying and selling quantity soared by 1.35% and 56.73% to $1.96 trillion and $30.28 billion, respectively.
BTC Futures Open Interest, based on Coinglass knowledge, has surged by 13%. This indicators that the general sentiments are bullish. Besides, the market is conserving shut monitor of the flagship crypto, because it hovers across the temporary $100K mark.
Meanwhile, Vivek Ramaswamy’s Strive Asset Management advancing the launch of this Bitcoin ETF is a constructive transfer not just for BTC however for your complete crypto ecosystem. For context, US Spot Bitcoin ETFs have contributed essentially the most inflows into digital belongings in 2024, based on CoinShares reported. However, the report additionally famous that XRP reigns supreme amongst different digital belongings in final week’s cash circulation.
Having mentioned that, the Bitcoin Bond ETF, if will get accepted, may additional push the value of the crypto increased. However, buyers ought to train due diligence, given the risky nature of the crypto market.
Coingape Staff
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