Convertible debt from Michael Saylor's Strategy comprises the majority of the REX Bitcoin Corporate Treasury Convertible Bond ETF holdings.

First, bitcoin enthusiasts could buy bitcoin (BTC-USD), then they could invest in stocks of crypto-linked companies such as Coinbase (COIN) and miners such as Riot Platforms (RIOT). Then came Strategy (MSTR),

REX Shares launched a first-of-its-kind Bitcoin Corporate Treasury Convertible Bond ETF (BMAX), offering investors exposure to convertible bonds issued by companies holding Bitcoin in their corporate treasury.

REX Shares debuted an ETF providing exposure to Strategy’s convertible bonds, a form of debt that was hard to access for most investors.

Rex has launched BMAX ETF, a fund that provides investors access to corporate bonds issued by companies using Bitcoin as a treasury asset.