Gate News: News, Dallas-based bitcoin asset manager Strive (ASST) has set a new high for the daily trading volume of its bitcoin preferred shares SATA since it began trading on the market in September 2025. Its daily trading value is approximately $43 million, more than 7x that of comparable preferred shares from JPMorgan. SATA has a par value of $100, with a floating dividend rate set at 12.75%, and its trading price has remained stable for a long time within the $99 to $101 range.
Chief Risk Officer Jeff Walton emphasized that SATA achieved a cumulative trading value of $1.28 billion within 104 trading days, while JPMorgan’s PD series preferred shares took 515 trading days to reach the same level. This highlights that even bitcoin preferred shares with a smaller scale and limited holdings can draw concentrated attention from institutional investors. Analyst Zynx noted that SATA’s high trading volume is closely related to its narrow trading price range and its structured design for regular dividends, and it also makes SATA more capital-efficient than Strategy’s STRC series.
As of April 1, 2026, Strive has purchased 13,628 bitcoins and obtained an additional 5,048 bitcoins through a stock-for-stock acquisition of Semler Scientific, further solidifying its position among the top ten in the industry by public holdings. Nearly all purchases were completed through preferred-share financing, avoiding debt or dilution of common stock, showing the unique value of bitcoin preferred shares as a financing tool.
Analyst Grain of Salt said that SATA’s bitcoin trading volume per share is about 7x Strategy’s, indicating that even small preferred shares can generate significant market activity. Whether more issuers join the bitcoin preferred share market in the future will directly affect the liquid bitcoin supply and the industry structure. Strive and Strategy are still the major players in this space, and the preferred-share model may become an important tool for companies to expand their bitcoin holdings.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Crypto Exchanges See 15,952 BTC Outflows Over Past Week, Balances Drop to 2.447M
Gate News message, April 27 — According to Coinglass, cryptocurrency exchanges experienced cumulative outflows of 15,952.91 BTC over the past week, bringing total exchange balances to 2.447 million BTC.
Leading exchanges accounted for the majority of outflows: one major exchange moved 6,269.08 BTC,
GateNews1h ago
Bitcoin 8-Hour Average Funding Rate Turns Negative at -0.0024%
Gate News message, April 27 — According to Coinglass data, Bitcoin's 8-hour average funding rate across major exchanges has turned negative at -0.0024%, indicating a shift toward bearish sentiment among traders.
Funding rates vary across platforms: certain major CEXs are charging 0.0003%
GateNews2h ago
Whale pension-usdt.eth's $110M Short on BTC and ETH Down $15.25M as April Rally Continues
Gate News message, April 27 — According to on-chain analyst Yujin's monitoring, whale pension-usdt.eth opened a 3x leveraged short position on $110 million worth of BTC and ETH near the start of April, but has since incurred a floating loss of $15.25 million as prices rallied throughout the month.
GateNews2h ago
Bitcoin Miners' Holdings Hit One-Month Low at 1.8M BTC as Hash Rate Declines
Gate News message, April 26 — Bitcoin miners' holdings dropped to 1,803,263 BTC (approximately $207.9 billion) as of April 25 at 2 p.m., according to CryptoQuant data. This represents a decrease of 1,248 BTC from seven days prior and marks the lowest level in approximately one month since
GateNews2h ago
UTXO Management Launches Dual-Category Digital Credit Yield Funds
UTXO Management announced the formation of the UTXO Preferred Income Strategies LP, issuing a dual-class digital credit income fund, divided into a senior income class and a total return class. The former seeks steady cash flow, monthly distributions, and enjoys priority allocations; the latter uses leverage to pursue capital appreciation. It also issued STRC preferred securities, combining fixed-income and digital asset exposure, offered only in a private placement to qualified investors.
ChainNewsAbmedia3h ago
22-Year-Old Sentenced to 70 Months for $263M Crypto Theft Laundering
## Sentencing and Charges
California resident Evan Tangeman, 22, was sentenced on Friday to 70 months in federal prison for his role laundering proceeds from a multi-state cryptocurrency theft ring that stole around $263 million in digital assets from victims, according to the U.S. Department of Ju
CryptoFrontier5h ago
