Rex shares have launched a first-in-the-stroke convertible observation fund (ETF), which gives investors exposure to the convertible debt issued by companies to add Bitcoin to their balance.

Called Rex Bitcoin Corporate Treasury Convertible Bond ETF (BMAX), the fund necessarily consists mostly of convertible paper issued by Michael Saylor’s Strategy (MSTR), by far the largest issuer of such debt. Other Top 10 possessions include the convertible notes from Bitcoin Miners Marathon Digital (Mara) and Riot Platforms (RIOT).

“Until now, these bonds have been difficult for individual investors to reach,” Greg King, CEO of Rex Financial, said in a statement. “BMAX removes these barriers, making it easier to invest in the strategy pioneering by Michael Saylor – to exploit business debt to acquire Bitcoin as a State Cased.”

The fund was officially launched today and deals with Nasdaq. It has a gross charging ratio of 0.85% and was grafted by $ 25 million in assets.

The ETF shares are higher in the early trade as Bitcoin has gathered from an overnight stay of about $ 80,000 to over $ 84,000.