BlackRock’s preferred stock ETF buys $39M in Strive’s SATS shares

BlackRock’s preferred stock ETF purchased $39 million in shares of Strive’s SATS, marking a notable tie-up between traditional asset management and crypto-linked equity. The move underscores how mainstream funds are gaining exposure to bitcoin-adjacent vehicles without holding the token directly. Strive’s SATS shares serve as a proxy for bitcoin exposure, and the size of the allocation signals institutional appetite beyond spot crypto products. Watch for follow-on flows into similar preferred-stock structures and whether other large asset managers replicate the approach.