Strive Asset Management is expanding into financial consulting

Strive Asset Management, the ETF issuer founded by former presidential candidate and Donald Trump surrogate Vivek Ramaswamy, is expanding into the financial advisory business with a Dallas-based asset management firm.

Founded in 2022, Strive manages 13 ETFs with a total value of $1.7 billion. The company has made a name for itself in the highly competitive ETF space by carving out a niche with strategies based on politically conservative values ​​and policies.

The wealth management business, funded in part by a $30 million investment from Cantor Fitzgerald, will place an emphasis on integrating Bitcoin into “everyday Americans' standard portfolios as a hedge against risks” that Strive expects to emerge in the coming years Decades remain a corporate statement.

The expansion into the wealth management business comes with the company moving its headquarters from Columbus, Ohio, to Dallas early next year.

The asset management business is led by Gary Dorfman as President and Randol Curtis as Chief Investment Officer.

Ramaswamy, who had climbed to third place in the polls to become the Republican presidential candidate despite having no political experience, resigned from Strive before his presidential bid began. He is currently working with Strive in an advisory capacity.

Strive representatives did not make anyone at the company available for comment, but in a prepared statement, Chief Executive Officer Matt Cole said, “Strive is building a new-age financial institution.”

“Our focus on providing clients true financial freedom through the thoughtful integration of Bitcoin differentiates our wealth management business from almost all major competitors today,” he added. “Our growth in wealth management to date has been driven almost entirely by retail clients, and our expansion into wealth management will allow us to serve these clients more fully.”

Strive's ETF offering is based on $670 million Strive 500 ETF (STRV), which represents an index of US companies weighted by market capitalization.

Strive's second largest fund is the $309 million fund Strive US Energy ETF (DRLL)which tracks a market capitalization-weighted index of listed US energy companies “without regard to ESG agendas”.

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