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BlackRock Increases Stake in Strive's Bitcoin-Focused Preferred Stock by 133%
BlackRock's iShares Preferred and Income Securities ETF, known by its ticker PFF, has significantly increased its investment in Strive Inc.'s Variable Rate Series A Perpetual Preferred Stock, also referred to as SATA, by 133% since June 2026. This increase brings BlackRock's total holdings to 236,159 SATA shares, reflecting a strong endorsement from the $10 trillion asset management firm for this unique financial instrument designed to facilitate Bitcoin acquisitions.
Strive, co-founded by Vivek Ramaswamy, has developed a model that issues preferred stock to generate capital for Bitcoin purchases, offering investors a variable annualized dividend of approximately 13%. The SATA stock, which behaves more like a high-yield bond, was launched in November 2025 and has quickly gained traction, with its outstanding notional value surpassing $1 billion by mid-September 2026. Strive's strategy has led to the acquisition of over 25,000 BTC, with recent purchases funded entirely through SATA proceeds.
The inclusion of SATA in BlackRock's portfolio indicates that the preferred stock has met the necessary criteria for major asset managers, as evidenced by the presence of other institutional investors like Fidelity. However, the lack of a maturity date for SATA and its variable dividend rate raises concerns about potential risks, particularly if Bitcoin experiences significant price declines.
Source: KLEA News