雷克斯比特币公司国库可转换债券ETF开始在纳斯达克股票下进行交易。

新的雷克斯比特币公司国库可转换债券ETF于2025年3月14日星期五开始在纳斯达克股票交易所进行交易，旨在比传统债券对比特币的波动更敏感，这使其特别适合于企业库中，并大量适合比特币。

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.

雷克斯比特币公司国库可转换债券ETF（NASDAQ：BMAX）于周五开始交易。 BMAX旨在比传统债券对比特币的波动更敏感，这使其特别适合于对比特币的财务经济敞口的公司国库。

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提供了可转换债券的风险，公司将比特币整合到其公司国库中。这对于诸如战略（NASDAQ :)等公司的公司尤其重要，该公司在比特币中拥有相当多的财务状况。

BMAX Provides Access to a Unique Asset Class

BMAX提供访问独特的资产类别

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的首席执行官Greg King补充说：“ BMAX是第一个为零售投资者和投资顾问访问公司将比特币纳入其财务战略的公司发行的可转换债券的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.”

到目前为止，这种债券一直很难让个人投资者获得。他补充说，BMAX“消除了这些障碍，使迈克尔·塞勒（Michael Saylor）率先进行的战略更容易投资，这将公司债务推向了将比特币作为财政资产。”

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.

在战略执行董事长迈克尔·塞勒（Michael Saylor）的领导下，越来越多的上市公司正在发行可转换债券，以资助比特币的财政部。作为解决方案，BMAX试图将这些债券的访问权限带入一个积极管理的ETF中，并结合了稳定的债务和潜在的权益上涨空间。它使投资者可以间接下注比特币，而不会使这些投资者面临风险。

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.

该基金还以积极的比特币国库策略为目标。 BMAX基金在发射时用策略可转换债券倾斜（81.21％）。像Mara和Riot Platforms的债券这样的比特币矿工分别占14.6％和4.02％。其余0.17％的持股量为“现金和其他”资产。

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.

通过专注于大量接触比特币的公司，BMAX可以利用这种流行的数字资产的潜在上升空间。这也意味着该基金的绩效将与这些公司战略的成功和比特币的整体绩效密切相关。

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.

战略对比特币有认真的承诺。它以接近19.9亿美元的价格购买了20,356 BTC，或者在2月完成了20亿美元的零零股票可转换票据产品后，平均每比特币的平均价格为97,514美元。这将其总持股量提高到499,096 BTC，价值超过410亿美元。

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.

这应该吸引各种投资者。债券部分可能会吸引寻求收入和稳定性的保守投资者。具有一定风险的投资者可能会认为这是一个机会，可以在不面对直接波动的情况下接触比特币的潜在上涨空间。对于仅关注高增长潜力的投资者来说，债券要素似乎太保守了。

A Closer Look at REX’s Growing Crypto Ecosystem

仔细观察雷克斯的加密生态系统

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.

最近几周，雷克斯（Rex）的股票也在增加其与Crypto的ETF相关活性。一月份，该公司与鱼鹰资金签署了一项协议，以提交几项资金的注册声明，其中包括特朗普成员。这些文件制定了以太坊，比特币，Solana，XRP，Dogecoin和Bonk Funds的计划。

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还提交了第一个申请，以列出移动网络的本地令牌ETF跟踪动作，该项目当时启动了该项目的公共内网络Beta。这些举动在加密货币市场上标志着Rex的巨大机会。