Strive and Tuttle file for ETF to invest in Strategy’s preferred STRC stock and Strive’s SATA

Major bitcoin treasury company Strive (ASST) is teaming up with investment advisor and ETF issuer Tuttle Capital Management on a new exchange-traded product, according to a U.S. Securities and Exchange Commission filing on Monday.

The T-Strive Digital Credit ETF is looking to invest in preferred equity securities issued by bitcoin treasury firms, namely, Strategy, the largest global bitcoin holder, and Strive, which recently entered the top 10 largest corporate bitcoin treasuries by number of bitcoins.

Both Strategy and Strive issue preferred stock equities, a type of sister stock to raise funds for their bitcoin-buying endeavors that are made attractive by paying out a healthy monthly income designed to adjust to keep the stocks’ price relatively stable.

Strategy Inc. Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), also known as Stretch, currently pays 11.5% in monthly dividends while maintaining an about $100 strike price.

Strive, inspired by both Strategy’s bitcoin treasury plans and preferred stock offering, issued the Strive, Inc. Variable Rate Series A Perpetual Preferred Stock (SATA), bumped up SATA’s dividend to 12.75% earlier this month, while also targeting a price range of $99-$100.

In January, Strive announced plans to raise an additional $150 million through a secondary public offering, following its oversubscribed $160 million SATA IPO in November, when the stock was first introduced.

The new T-Strive Digital Credit ETF, if approved, would trade on the Cboe exchange under the ticker symbol DGCR. According to the prospectus, DGCR would not directly invest in bitcoin, and would use swaps and leverage to amplify its income exposure to STRC and SATA.

A leveraged ETF uses financial derivatives and debt to amplify the daily returns of an underlying security.

The filing did not list a management fee amount yet. Tuttle’s Matthew Tuttle would serve as the primary portfolio manager, with Strive Vice President Chris Nicholson named as sub-advisor, according to the filing.

Strive holds 13,310.9 BTC as of March 11. The firm in the past several months accumulated 5,886 BTC from initial PIPE proceeds, 5,048 BTC from its acquisition of Semler Scientific, and 2,694 BTC from other capital markets activity such as its SATA IPO, at-the-market programs, and follow-on offerings.

Tuttle has steadily increased its exposure to crypto, including by launching several funds tracking exposure to major tokens like XRP and Solana, bitcoin infrastructure firms like Galaxy and Bitmine, and other related strategies. It also oversees more exotic thematic ETFs, such as the UFO Disclosure ETF, which invests in firms supposedly standing to benefit from the U.S. government confirming extraterrestrial activity, and the TopGun fund.

Last year, Tuttle filed to list leveraged ETFs tracking President Donald Trump and First Lady Melania Trump’s memecoins, though the funds do not appear to have gone live.

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