Rex Financial Launnes Bitcoin（BTC）公司財政部敞篷債券（BMAX）ETF

Rex股票是一家交易所交易基金（ETF）的提供商，擁有超過60億美元的管理資產（AUM），啟動了其比特幣（BTC）公司財政部敞篷債券（BMAX）ETF

REX Shares, an exchange-traded fund (ETF) provider with over $6 billion in AUM, has launched its Bitcoin (BTC) Corporate Treasury Convertible Bond (BMAX) ETF that invests in the convertible bonds of companies with a BTC corporate reserve strategy.

雷克斯（Rex）股票是AUM超過60億美元的交易所交易基金（ETF）提供商，已推出其比特幣（BTC）公司財政部可轉換債券（BMAX）ETF，該債券（BMAX）ETF投資於與BTC公司儲備戰略的公司的可轉換債券。

According to the March 14 announcement, the ETF will purchase the convertible notes of companies such as Strategy. Convertible notes are commercial paper that can be converted into equity at a predetermined rate if an investor chooses.

根據3月14日的公告，ETF將購買諸如戰略等公司的可轉換票據。可轉換票據是商業紙張，如果投資者選擇，可以以預定的利率轉換為股權。

Typically, these convertible bonds are purchased by institutional investors, including pension funds, some of which specialize in convertible note investing. Greg King, CEO of REX Financial, said:

通常，這些可轉換債券是由機構投資者購買的，其中包括養老基金，其中一些專門從事可轉換票據投資。 Rex Financial首席執行官Greg King說：

“Investing in convertible bonds, ETFs and the equity of companies such as Strategy, MARA and Metaplanet provides investors with indirect exposure to Bitcoin that removes the technical barrier to entry and self-custodial risks of holding BTC directly.”

“投資於諸如戰略，Mara和Metaplanet等公司的可轉換債券，ETF和股權，為投資者提供了間接接觸比特幣的投資者，這可以直接消除持有BTC的進入技術障礙和自治風險。”

Related: Michael Saylor’s Strategy to raise up to $21B to purchase more Bitcoin

相關：邁克爾·塞勒（Michael Saylor）籌集高達$ 21B以購買更多比特幣的策略

Strategy a proxy Bitcoin bet for institutional investors

戰略機構投資者的代理比特幣下注

The announcement noted that institutional investors may lack the technical sophistication to hold BTC directly or have legal or fiduciary constraints preventing them from investing in digital assets.

該公告指出，機構投資者可能缺乏直接持有BTC的技術成熟，或者俱有法律或受信的限制，從而阻止他們投資數字資產。

At least 12 US states currently hold Strategy stock as part of their state pension funds and treasuries. Collectively, these states hold over $271 million in Strategy stock using current market prices.

目前，至少有12個州作為其州養老基金和國債的一部分持有戰略股票。總的來說，這些州使用當前的市場價格持有超過2.71億美元的戰略股票。

The list comprises Arizona, California, Colorado, Florida, Illinois, Louisiana, Maryland, North Carolina, New Jersey, Texas, Utah and Wisconsin.

該清單包括亞利桑那州，加利福尼亞，科羅拉多州，佛羅里達，伊利諾伊州，路易斯安那州，馬里蘭州，北卡羅來納州，新澤西州，德克薩斯州，猶他州和威斯康星州。

California’s State Teachers’ Retirement Fund and its Public Employees Retirement System hold $67.2 million and $62.8 million in Strategy stock, respectively.

加利福尼亞州的州教師退休基金及其公共僱員退休系統分別持有6720萬美元和6280萬美元的戰略股票。

According to SaylorTracker, Strategy currently holds 499,096 BTC, valued at over $41.4 billion, making the company one of the largest corporate BTC holders in the world — eclipsing the US government’s estimated 198,000 BTC.

根據Saylortracker的說法，戰略目前擁有499,096 BTC，價值超過414億美元，使該公司成為世界上最大的公司BTC持有人之一，這使美國政府估計的198,000 BTC黯然失色。

Strategy’s most recent Bitcoin purchase occurred on Feb. 24, when the company acquired 20,356 BTC for nearly $2 billion.

策略最近的比特幣購買發生在2月24日，當時該公司以近20億美元的價格收購了20,356 BTC。