STRC preferred shares issued by Bitcoin accumulator Strategy now sit at the top of portfolios across three of the largest preferred stock ETFs in the United States: BlackRock iShares (PFF), Virtus InfraCap (PFFA), and VanEck (PFXF). Together, these three exchange-traded funds hold a combined $756 million worth of STRC, even as its market price remains stuck at $87 per share, or 13% below its par value.
This shift in ownership was confirmed by Strategy CEO Phong Le. Correcting previous reports, Le confirmed that average institutional holdings in STRC shares surged 105% to $3.5 million as of July. In contrast, the retail investor share shrank from 78% to 71%, indicating that major corporations are scooping up the dividend-yielding stock from smaller investors.
Not a Sign of Full Conviction
Bitcoin critic Peter Schiff argued that this fresh influx of capital does not mean Wall Street is betting on higher crypto prices. Schiff viewed the phenomenon strictly as an arbitrage play. Institutional investors buy discounted STRC shares while simultaneously taking short positions against the main stock MSTR or Bitcoin. This spread trade allows investment managers to lock in profits from the price gap without caring about the direction of the crypto market.
The demand to fulfill obligations to STRC shareholders ultimately forced Strategy to dip into its Bitcoin reserves. On July 6, 2026, the company sold 3,588 BTC worth $216 million. The sale proceeds secured corporate liquidity while funding a 12% annual cash dividend for STRC investors. Despite parting with thousands of coins, Strategy’s status as the largest publicly traded corporate Bitcoin holder remains unshakeable with a remaining balance of 843,775 BTC.
Competitors Start Catching Up
Funding routes via preferred instruments are not monopolized by a single player. SATA perpetual preferred shares issued by Strive are gradually rebounding after facing selling pressure throughout June. Its price is now just 3% away from its initial $100 par value. Strive itself ranks seventh among publicly traded corporate Bitcoin holders, holding 19,921 BTC in its treasury.
Jan3 CEO Samson Mow saw SATA’s resurgence as a positive signal, calling it a sign of returning market confidence in digital credit instruments used to finance corporate Bitcoin accumulation.
For retail buyers, the entry of Wall Street capital into debt instruments like STRC and SATA certainly buffers prices from steep plunges, but at a heavy cost: control over crypto firms is now shaped by the short-term interests of dividend hunters.
Via crypto.news.
Also read: What Is Bitcoin Halving?
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
