Rex股票推出了由比特幣支持的公司財政部可轉換債券ETF

2025年3月14日，雷克斯（Rex）股票是一家位於邁阿密的交易所買賣產品的創新者，推出了一種開創性的金融工具：雷克斯比特幣企業債券可轉換債券ETF，根據股票nasdaq：bmax進行交易。

REX Shares, a Miami-based innovator in exchange-traded products, today announced the launch of the REX Bitcoin Corporate Treasury Convertible Bond ETF (NASDAQ:BMAX). This groundbreaking fund, the first of its kind, provides investors with unique access to convertible bonds issued by companies that hold Bitcoin (BTC) on their balance sheets.

REX SHORES是一家位於邁阿密交易所買賣產品的創新者，今天宣布推出Rex Bitcoin Corporary Corporury Convertible Bond ETF（NASDAQ：BMAX）。這項開創性的基金是同類基金，為投資者提供了對持有比特幣（BTC）在資產負債表上的公司發行的可轉換債券的獨特訪問權限。

The timing of the launch highlights the increasing interest in corporate treasury Bitcoin strategies. Bitcoin price rose 2.1% to $83,400 on Monday, while Strategy (NASDAQ:FOUR) stock saw a 5.1% gain in morning trading.

發射的時機突出了對公司國庫比特幣策略的日益興趣。週一，比特幣價格上漲了2.1％，至83,400美元，而戰略（納斯達克股票代碼：四）股票在早晨交易中漲幅5.1％。

This launch marks a significant moment as institutions like Strategy have been actively integrating Bitcoin into their treasuries, funded in part by convertible bonds and new stock offerings. Several other firms have followed suit, creating a niche asset class.

此次發布標誌著像戰略這樣的機構一直在積極將比特幣整合到國庫中的重要時刻，部分是由可轉換債券和新股票提供的。其他幾家公司也效仿，創建了利基資產類別。

While these bonds offer interesting investment opportunities, they are often not accessible to individual investors due to their complexity and minimum investment tiers. However, BMAX solves this problem by bundling this strategy into a single, actively managed ETF, simplifying access for retail investors and financial advisors.

儘管這些債券提供了有趣的投資機會，但由於個人投資者的複雜性和最低投資等級，通常無法獲得這些債券。但是，BMAX通過將該策略捆綁成一個單一的，積極管理的ETF來解決這個問題，從而簡化了散戶投資者和財務顧問的訪問。

“We are excited to launch the REX Bitcoin Corporate Treasury Convertible Bond ETF, the first ETF to provide everyday investors with an investment in convertible bonds issued by companies that are deploying Bitcoin as a treasury asset,” said Greg King, CEO of REX Financial.

雷克斯金融公司首席執行官格雷格·金（Greg King）表示：“我們很高興推出雷克斯比特幣公司國庫可轉換債券ETF，這是第一個為日常投資者提供對部署比特幣作為財政部資產的公司發行的可轉換債券的投資的ETF。”

REX, which manages over $6 billion in assets, is known for its expertise in alternative-strategy ETFs. BMAX expands this offering, focusing on issuers like Strategy, a major player in Bitcoin-backed debt. The ETF provides a regulated vehicle for investors to gain exposure to the crypto market without directly investing in Bitcoin.

雷克斯（Rex）管理著超過60億美元的資產，以其在替代策略ETF方面的專業知識而聞名。 BMAX擴展了此產品，重點關注發行人，例如戰略，這是比特幣支持的債務的主要參與者。 ETF為投資者提供了受監管的車輛，以便在不直接投資比特幣的情況下獲得加密市場。

Convertible bonds combine features of both debt and equity securities. They offer a regular income stream like traditional bonds and can be converted into stock, allowing investors to participate in the company’s share price appreciation. In this case, they will benefit if Strategy’s stock price rises due to increased Bitcoin holdings or other factors.

可轉換債券結合了債務和股票證券的特徵。他們提供常規的收入來源，例如傳統債券，可以轉換為股票，使投資者能夠參與公司的股價增值。在這種情況下，如果由於比特幣持有量增加或其他因素，戰略的股價上漲，它們將受益。

This hybrid structure makes BMAX suitable for investors seeking to balance risk and reward. While Benares is known for its Bitcoin focus, it also faces risks common to all "Bitcoin Treasury Companies." These companies are subject to speculative hype, regulatory scrutiny, and accounting complexities like impairment losses when the Bitcoin price drops.

這種混合結構使BMAX適合尋求平衡風險和回報的投資者。儘管Benares以其比特幣的重點而聞名，但它也面臨著所有“比特幣財政部”常見的風險。這些公司受到投機性炒作，監管審查和會計複雜性的約束，例如比特幣價格下跌時的減值損失。

The prospectus for BMAX lists several risk factors, including the volatility of Bitcoin and the challenges faced by companies like Strategy. It highlights that Strategy is a key holding due to its large market capitalization.

BMAX的招股說明書列出了幾個風險因素，包括比特幣的波動和戰略等公司所面臨的挑戰。它強調，由於其龐大的市值，策略是一個關鍵的持有。

Moreover, BMAX is subject to interest rate fluctuations, liquidity concerns, and tax implications. The fund will be taxed as a C-corporation, which is different from most ETFs.

此外，BMAX受利率波動，流動性問題和稅收影響。該基金將被徵稅為C公司，這與大多數ETF不同。

Despite these risks, BMAX signals the evolving nature of the crypto market, where diverse investment vehicles are catering to a wider range of investor preferences. Distributed by Foreside Fund Services, LLC, and powered by REX’s expertise in alternative-strategy ETFs, BMAX brings a unique institutional investment strategy to the ETF market.

儘管有這些風險，BMAX仍表示加密市場的不斷發展的性質，在這種情況下，各種投資工具可以滿足廣泛的投資者偏好。 BMAX由Foreside Fund Services，LLC分發，並由Rex在替代策略ETF方面的專業知識提供支持，為ETF市場帶來了獨特的機構投資策略。