Saylor Claims STRC is the Largest Holding in Three Major Preferred Stock ETFs
Michael Saylor, founder of Strategy, stated that STRC has become the largest holding in three leading preferred stock ETFs in the U.S., with a total size of $756 million.
These include BlackRock's PFF, Virtus InfraCap PFFA, and VanEck PFXF. He noted that "digital credit is entering the institutional mainstream."
The growth in holdings is event-driven, with institutional funds flowing into Bitcoin-related preferred stocks, benefiting Strategy's financing and Bitcoin reserve strategy, while traditional preferred stock targets are under pressure.
Source: Public Information
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Saylor transformed the original MicroStrategy into the Bitcoin treasury company Strategy, continuously increasing Bitcoin holdings by issuing perpetual preferred stocks like STRC and paying high dividends.
In terms of capital pathways, preferred stocks are being incorporated on a large scale into mainstream ETFs, shifting resources from retail and early holders to institutional allocations, motivated by embedding "digital credit" products into traditional fixed income channels.
Similar cases can be seen in the adoption process of Bitcoin spot ETFs by institutions, currently in the expansion phase of Bitcoin-related securities transitioning from alternative assets to mainstream fixed income allocations.
Essentially, this represents capital concentration, with the mechanism being that high-dividend preferred stocks lower the entry barrier for institutions into the Bitcoin ecosystem, accelerating the migration of capital from traditional preferred stocks to digital credit.
ABAB News · Cognitive Law
Preferred stocks are a bridge for institutions to enter crypto.
ETF holdings are the strongest signal of mainstreaming.
Digital credit ultimately challenges traditional fixed income.