BlackRock’s iShares ETF boosts its Strive SATA position by 133%

BlackRock’s iShares Preferred and Income Securities ETF, better known by its ticker PFF, has more than doubled its stake in Strive Inc.’s Variable Rate Series A Perpetual Preferred Stock since June. The 133% increase brought BlackRock’s position to 236,159 SATA shares, a meaningful vote of confidence from the $10 trillion asset management giant in what amounts to a Bitcoin accumulation vehicle dressed in a preferred equity wrapper. Strive, co-founded by Vivek Ramaswamy, has carved out a distinct lane: issuing preferred stock that pays investors a roughly 13% annualized variable dividend, then using the proceeds to buy Bitcoin. No debt. No convertible notes. Just equity that feeds directly into BTC purchases. How SATA actually works The Nasdaq-listed preferred stock targets a trading range of $99 to $101 around its $100 par value, designed to behave more like a high-yield bond than a volatile growth stock. Dividends are paid daily on business days. The instrument launched via an oversubscribed IPO in November 2025, initially raising $160 million at $80 per share. It carries no maturity date, meaning Strive has no obligation to redeem it. For US tax purposes, the dividends are classi...