Strive, Inc is pushing deeper into Bitcoin-linked finance with a new exchange-traded fund (ETF) proposal that seeks income from the debt and preferred stock of companies holding Bitcoin as a core treasury asset.
Strive Seeks Yield From Bitcoin Treasury Companies with ETF
30 March 2026 - 20:52 CEST
By Ana Pereira
The proposed fund, named T-Strive Digital Credit ETF (ticker: DGCR), would invest primarily in preferred equity and other credit instruments issued by Bitcoin treasury companies, according to a prospectus filed with the US Securities and Exchange Commission on 30 Mar.
Preferred securities are hybrid instruments that sit between debt and equity. They typically pay a fixed income like a bond, but rank below senior debt in a company’s capital structure, offering higher yields in exchange for higher risk.
The filing specifically names instruments such as Strategy’s STRC and Strive’s own SATA, both structured as preferred shares rather than conventional corporate bonds.
Yield play
Strategy’s STRC is a perpetual-preferred stock launched as part of its ongoing capital markets programme to fund Bitcoin purchases.
The security currently offers a dividend rate of about 12% annually, with payments made in cash each month and adjusted regularly to keep the price close to its $100 par value. The programme has scaled quickly: Strategy raised roughly $158mn in the fourth quarter of 2025 and another $421mn in January 2026, with roughly $3.6bn still available for issuance. A recent filing shows a monthly distribution of $0.9167 per share for January 2026.
Strive has closely followed Strategy’s playbook of financing Bitcoin accumulation through preferred stock issuance.
SATA is Strive’s own variable-rate perpetual preferred stock, launched in November 2025. It raised about $160mn in an initial issuance, followed by a $500mn at-the-market programme. The security pays monthly dividends, with the rate rising from 12.00% to 13% by March 2026. The latest disclosed payment, scheduled for mid-April, is $1.0625 per share.
Financing engine
Michael Saylor, executive chairman of Strategy, has pitched the model as a way to monetize Bitcoin volatility and generate yield without selling the underlying asset. The company uses preferred stock and other instruments to fund continued accumulation.
Strategy currently holds roughly 762,000 BTC on its balance sheet, worth over $51bn as of 30 Mar.
Bitcoin was trading at around $67,400 per coin as of 16:39UTC, up roughly 2.2% on the day. Short-term volatility also picked up sharply, with the Bitcoin Historical Volatility Index (BVOL24H) rising 43% to 2.75.
Meanwhile, shares of Strive Inc. (ASST) were little changed, trading at $9.87, up 0.2% on the day.
