Strive and Tuttle Tell Bitcoin to Sit This One Out, File ETF to Milk the Preferred Stock Cash Cow Instead

Major bitcoin treasury company Strive (ASST) is hooking up with ETF issuer Tuttle Capital Management on a shiny new exchange-traded product, according to an SEC filing dropped on Monday. The T-Strive Digital Credit ETF—because apparently "Digital Credit" sounds more sophisticated than "Preferred Stock Gambling Den"—plans to park investor cash in preferred equity securities issued by bitcoin treasury firms. Specifically, they're going all-in on Strategy (the world's biggest corporate bitcoin bagholder... we mean holder) and Strive itself, which recently cracked the top 10 largest corporate bitcoin treasuries like a degen cracking a new altcoin.

Both companies have rolled out preferred stock, essentially fancy sister stocks designed to raise funds for their never-ending bitcoin buying sprees. These bad boys pay out delicious monthly income while keeping the share price relatively stable—unlike the actual bitcoin price, which has a tendency to give investors grey hairs. Strategy's Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), affectionately known as "Stretch," currently serves up 11.5% in monthly dividends while casually lounging around the $100 mark. Not bad for a preferred stock that's basically a yield farm with extra steps.

Strive, clearly taking meticulous notes from Strategy's playbook (some might call it copying, we call it "strategic imitation"), launched its own Variable Rate Series A Perpetual Preferred Stock (SATA) and bumped that dividend to 12.75% earlier this week, targeting a $99-$100 price range. At these rates, you almost forget you're not actually holding any bitcoin. Almost.

If approved, DGCR will trade on the Cboe exchange with great fanfare and zero direct bitcoin exposure. The prospectus makes this crystal clear: no sats were harmed in the making of this ETF. Instead, it'll use swaps and leverage to pump up its income exposure to STRC and SATA like a juiced-up bodybuilder. Because nothing screams "crypto innovation" quite like levered derivatives on preferred stocks. Matthew Tuttle will handle portfolio management duties, while Strive VP Chris Nicholson steps in as sub-advisor—because when you're building a derivatives-laden preferred stock ETF, you definitely want two sets of hands on the wheel.