雷克斯比特幣公司國庫可轉換債券ETF開始在納斯達克股票下進行交易。

新的雷克斯比特幣公司國庫可轉換債券ETF於2025年3月14日星期五開始在納斯達克股票交易所進行交易，旨在比傳統債券對比特幣的波動更敏感，這使其特別適合於企業庫中，並大量適合比特幣。

The REX Bitcoin Corporate Treasury Convertible Bond ETF (NASDAQ:BMAX) commenced trading on Friday. BMAX is designed to be more sensitive to Bitcoin fluctuations than traditional bonds, making it particularly suited for corporate treasuries with significant financial exposure to Bitcoin.

雷克斯比特幣公司國庫可轉換債券ETF（NASDAQ：BMAX）於週五開始交易。 BMAX旨在比傳統債券對比特幣的波動更敏感，這使其特別適合於對比特幣的財務經濟敞口的公司國庫。

The first-of-its-kind ETF offers exposure to convertible bonds, where companies integrate Bitcoin into their corporate treasuries. This is especially important for firms such as Strategy (NASDAQ:), which has a considerable amount of its financials tied up in Bitcoin.

首先，ETF提供了可轉換債券的風險，公司將比特幣整合到其公司國庫中。這對於諸如戰略（NASDAQ :)等公司的公司尤其重要，該公司在比特幣中擁有相當多的財務狀況。

BMAX Provides Access to a Unique Asset Class

BMAX提供訪問獨特的資產類別

Greg King, CEO of REX Financial, added, “BMAX is the first ETF giving retail investors and investment advisors access to convertible bonds issued by companies integrating Bitcoin into their financial strategy.”

Rex Financial的首席執行官Greg King補充說：“ BMAX是第一個為零售投資者和投資顧問訪問公司將比特幣納入其財務戰略的公司發行的可轉換債券的ETF。”

Until now, such bonds have been hard for individual investors to access. He adds that BMAX “removes those barriers, making it easier to invest in the strategy pioneered by Michael Saylor—leveraging corporate debt to acquire Bitcoin as a treasury asset.”

到目前為止，這種債券一直很難讓個人投資者獲得。他補充說，BMAX“消除了這些障礙，使邁克爾·塞勒（Michael Saylor）率先進行的戰略更容易投資，這將公司債務推向了將比特幣作為財政資產。”

Led by Strategy Executive Chairman Michael Saylor, more public companies have been issuing convertible bonds to fund Bitcoin acquisitions for their treasury. As a solution, BMAX seeks to bring access to these bonds into a single, actively managed ETF with a combination of stable debt and potential equity upside. It allows investors to indirectly bet on Bitcoin without exposing such investors to risks.

在戰略執行董事長邁克爾·塞勒（Michael Saylor）的領導下，越來越多的上市公司正在發行可轉換債券，以資助比特幣的財政部。作為解決方案，BMAX試圖將這些債券的訪問權限帶入一個積極管理的ETF中，並結合了穩定的債務和潛在的權益上漲空間。它使投資者可以間接下注比特幣，而不會使這些投資者面臨風險。

The fund is also strategically targeting issuers with active Bitcoin treasury strategies. The BMAX fund is heavily tilted with Strategy convertible bonds at launch (81.21%). Bitcoin miners like MARA and Riot Platforms’ bonds account for 14.6% and 4.02%, respectively. The remaining 0.17% of holdings are in "cash and other" assets.

該基金還以積極的比特幣國庫策略為目標。 BMAX基金在發射時用策略可轉換債券傾斜（81.21％）。像Mara和Riot Platforms的債券這樣的比特幣礦工分別佔14.6％和4.02％。其餘0.17％的持股量為“現金和其他”資產。

By focusing on companies with heavy exposure to Bitcoin, BMAX can take advantage of the potential upside of this popular digital asset. It also means that the fund’s performance will be closely linked to the success of these companies’ strategies and the overall performance of Bitcoin.

通過專注於大量接觸比特幣的公司，BMAX可以利用這種流行的數字資產的潛在上升空間。這也意味著該基金的績效將與這些公司戰略的成功和比特幣的整體績效密切相關。

Strategy has a serious commitment to Bitcoin. It bought an additional 20,356 BTC for nearly $1.99 billion, or an average price of $97,514 per bitcoin, after completing its most recent $2 Billion zero-coupon convertible note offering in February. This brings its total holdings to 499,096 BTC, worth over $41 billion.

戰略對比特幣有認真的承諾。它以接近19.9億美元的價格購買了20,356 BTC，或者在2月完成了20億美元的零零股票可轉換票據產品後，平均每比特幣的平均價格為97,514美元。這將其總持股量提高到499,096 BTC，價值超過410億美元。

This should appeal to a variety of investors. The bond component may appeal to conservative investors seeking income and stability. Investors with some risk tolerance might see this as an opportunity to gain exposure to Bitcoin’s potential upside without facing its direct volatility. For investors whose focus is solely on high-growth potential, the bond element might seem too conservative.

這應該吸引各種投資者。債券部分可能會吸引尋求收入和穩定性的保守投資者。具有一定風險的投資者可能會認為這是一個機會，可以在不面對直接波動的情況下接觸比特幣的潛在上漲空間。對於僅關注高增長潛力的投資者來說，債券要素似乎太保守了。

A Closer Look at REX’s Growing Crypto Ecosystem

仔細觀察雷克斯的加密生態系統

In recent weeks, REX Shares has been increasing its ETF-related activity for crypto as well. In January, the firm signed an agreement with Osprey Funds to submit registration statements for several funds, which included one for the TRUMP memecoin. The filings had plans for Ethereum, Bitcoin, Solana, XRP, Dogecoin, and Bonk funds.

最近幾週，雷克斯（Rex）的股票也在增加其與Crypto的ETF相關活性。一月份，該公司與魚鷹資金簽署了一項協議，以提交幾項資金的註冊聲明，其中包括特朗普成員。這些文件製定了以太坊，比特幣，Solana，XRP，Dogecoin和Bonk Funds的計劃。

REX and Osprey Funds also submitted the first application to list an ETF tracking MOVE, the native token of the Movement network, with the public mainnet beta of that project launching at the time. These moves signal a huge opportunity for REX in the crypto market.

Rex和Osprey Funds還提交了第一個申請，以列出移動網絡的本地令牌ETF跟踪動作，該項目當時啟動了該項目的公共內網絡Beta。這些舉動在加密貨幣市場上標誌著Rex的巨大機會。