Introducing BMAX from REX Shares

The Bitcoin Corporate Treasury Convertible Bond ETF

REX Shares specializes in alternative exchange-traded funds.

​BMAX​ is a pioneering ETF offering investors access to convertible bonds issued by companies that have integrated Bitcoin into their corporate treasuries.

Why invest in Convertible Debt?

• Convertible bonds are hybrid securities that offer interest payments and the potential for equity conversion.

• They provide interest yields during the bond's life, with an option to convert into stock if the issuing company's share price exceeds a set conversion threshold at maturity.

• This dual benefit structure offers exposure to Bitcoin-related corporate strategies while maintaining a foothold in traditional securities

Details

• Ticker: BMAX​

• Asset Class: US Equity​

• Fund Inception: NASDAQ, March 14, 2025​

• Management Fee: 0.85%​

^{Investing involves risk, including possible loss of principal. Investors should carefully consider the investment objectives, risks, charges, and expenses of BMAX before investing. This and other important information are contained in the Prospectus, which can be obtained by visiting the link above. Please read the Prospectus carefully before investing.}

📰 Market Headlines

Markets whipsawed violently yesterday before closing sharply lower.

• The S&P 500 tumbled 1.6% to 4,982, its lowest level since April 2024, while the Dow dropped 0.8%.

• The US economy showed resilience before the tariff shock, adding 228,000 jobs in March and beating forecasts of 140,000.

A major hack of the Office of the Comptroller of the Currency exposed "highly sensitive information" about banks' financial conditions.

The White House confirmed 104% tariffs on Chinese imports will take effect Wednesday.

🏎️ Alternative investing news

Classic Ferraris, Porsches, and Astons are fully exempt from Trump’s 25% import tariff under a special clause.

 📊 Ideas, trends, and analysis

🧠 Make yourself heard

The S&P 500 is now down 19% from its peak, making this one of the biggest dips of all time.

😱 Fear and Greed Index

📊 Earnings this week

• Cal-Maine reported Q1 revenue of $1.42 billion, up 102% year-over-year but missing estimates as shares dropped 5%.

• Tilray missed Q3 revenue estimates with $185.78 million, down 1.4% year-over-year, as cannabis sales fell 14.4%; shares tumbled 11%.

• Walgreens beat Q2 earnings expectations but posted a $2.85 billion net loss, and shares slid 3.3%.

• WD-40 topped Q2 profit estimates and raised its 2025 outlook as margins expanded 213 basis points; shares climbed 1.17%.

Market movers

• Microsoft fired two engineers who protested the company's AI contracts with Israel's military during its 50th anniversary celebration.

• Transcarent completed its $621 million merger with health benefits platform Accolade.

• Razer halted all US laptop sales.

• Gallagher poached Aon's M&A chief revenue officer, Hunter Davis, to lead its private equity practice.

🎤 What you said last time

“Don't trust anyone. Especially anyone claiming they know stuff.”

📺 What to watch today