Bitcoin treasury Strive’s preferred stock, SATS, is now trading on the Nasdaq, according to the company.
The stock debuted Tuesday and will pay a 15% dividend every business day, according to an announcement.
Nasdaq-listed Strive said it closed its upsized initial public offering of 7,000,000 shares of SATS at a public offering price of $90 per share.
It comes as public companies work to financialize bitcoin via different products. OG bitcoin treasury Strategy, which has five different preferred stocks, proposed daily dividends for its products last month.
“The successful, upsized IPO of SATS marks a critical milestone in our strategy to maximize long-term total returns for our common equity investors,” Matt Cole, Chairman and CEO of Strive, said in a statement.
The Nasdaq-listed Strive also has SATA, another preferred stock, which pays a variable dividend.
Strive debuted as an official bitcoin treasury last year and is now the fourth biggest company in the space.
Founded by former Ohio gubernatorial candidate and tech entrepreneur Vivek Ramaswamy, the company holds 36,818 BTC worth over $3 billion at today’s prices. The company on Monday announced another bitcoin buy of 4,045 BTC between October 12 and 16.
In January 2026, it completed the acquisition of Semler Scientific in an all-stock deal — the first instance of a publicly traded Bitcoin treasury company acquiring another such company.
Like with other digital asset treasuries, the idea is that investors can get amplified returns from Strive’s stock. The company buys bitcoin with equity, and maintains a debt-free balance sheet: no bonds, no credit lines, and no leveraged positions that could trigger forced liquidation in a downturn.
Strive is following in the footsteps of software company Strategy, which started buying bitcoin in 2020. Strategy is now the largest corporate holder of bitcoin, with 848,517 coins worth over $60 billion.
Its five preferred stocks are STRF, STRC, STRK, STRD, and STRE.
Strive’s stock, ASST, was trading 4% higher on Tuesday.