BlackRock’s iShares Preferred and Income Securities ETF (PFF) has acquired 412,353 shares of Strive’s Series A Perpetual SATS preferred stock. The investment is valued at approximately $39.2 million as of November 4, 2026.
Strive, a Nasdaq-listed company, issued the SATS preferred stock to fund its Bitcoin acquisition strategy. The securities offer a 15% annual dividend based on a stated value of $100 per share.
Strive raised roughly $630 million through an IPO for these shares, which closed on October 20, 2026. The company subsequently purchased 6,182 BTC for $511.4 million between October 17 and October 23, 2026.
The company’s total Bitcoin treasury now exceeds 43,000 BTC. Strive utilizes preferred equity offerings as the primary mechanism to finance its reserve accumulation.
The PFF fund previously held Strive’s SATA preferred shares, which maintain a higher seniority in the company’s capital structure compared to the newly acquired SATS shares.
