TLDR
- Strive and Tuttle filed for the T-Strive Digital Credit ETF under ticker DGCR.
- DGCR would target Strategy’s STRC and Strive’s SATA preferred stocks.
- The proposed ETF would not invest directly in Bitcoin.
- DGCR plans to use swaps and leverage to increase income exposure.
- Strive’s SATA monthly dividend was recently raised to 12.75%.
Strive Asset Management and Tuttle Capital Management have filed for a new exchange-traded fund focused on preferred equity issued by bitcoin treasury companies. According to a filing submitted to the U.S. Securities and Exchange Commission on March 30, the proposed fund is called the T-Strive Digital Credit ETF and would trade on the Cboe exchange under the ticker DGCR if approved.
The proposed product is designed to invest in preferred securities tied to companies that use corporate balance sheets to build bitcoin exposure. The filing names Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, known as STRC, and Strive’s Variable Rate Series A Perpetual Preferred Stock, known as SATA, as the core instruments for the strategy.
The fund would not invest directly in bitcoin. Instead, it would seek income exposure through preferred equity and would also use swaps and leverage to increase that exposure. The filing did not include a management fee. Matthew Tuttle was listed as the primary portfolio manager, while Strive Vice President Chris Nicholson was named as sub-advisor.
New ETF Focuses on Preferred Stock From Bitcoin Treasury Firms
The filing places the fund in a growing category of products linked to public companies that finance bitcoin accumulation through equity markets. Strategy and Strive both use preferred stock structures to raise capital while offering investors monthly income tied to floating dividend rates.
Strategy’s STRC currently pays an 11.5% monthly dividend while aiming to hold a price near the $100 level. Strive’s SATA recently raised its monthly dividend to 12.75% and also targets a price range of around $99 to $100. These instruments have become central to how both companies support broader treasury strategies tied to bitcoin.
The proposed DGCR fund would package that income-focused exposure into a listed ETF. By focusing on preferred stock rather than bitcoin directly, the fund would offer investors another route into the digital asset sector through securities issued by public companies.
Strive Expands Crypto-Linked Product Line
The filing also adds to Strive’s broader expansion into crypto-linked financial products. Earlier efforts included a Bitcoin-bond strategy tied to corporate debt of firms with Bitcoin exposure. The company has also built a larger balance sheet strategy around bitcoin itself.
As of March 11, Strive held 13,310.9 BTC, according to the report. The company said that the reserve came from several channels, including initial PIPE proceeds, its acquisition of Semler Scientific, and capital markets activity tied to SATA, at-the-market programs, and follow-on offerings.
Strive’s preferred stock offering has played an important role in that expansion. The company announced plans in January to raise another $150 million through a secondary public offering after its SATA IPO in November was oversubscribed and raised $160 million. The latest ETF filing shows how Strive is extending that structure into a separate investment product.
Tuttle has also increased its presence in crypto-related ETFs. Its lineup includes products linked to major digital assets, crypto infrastructure firms, and more specialized thematic strategies. That background gives the partnership a clear base in listed products tied to digital asset demand.
ETF Filing Reflects Broader Shift in Crypto Capital Markets
The proposed fund arrives at a time when public market structures around bitcoin treasury firms are becoming more layered. In earlier stages, investor access was largely limited to common shares or direct crypto exposure. New products such as preferred stocks and credit-linked ETFs show that the sector is moving into more specialized capital markets territory.
DGCR would fit into that shift by focusing on income from securities issued by firms using bitcoin-linked treasury models. Because the fund uses leverage and swaps, it would carry a different risk profile from a standard equity ETF. At the same time, it offers a more indirect form of crypto-linked exposure than spot bitcoin products.
Regulatory approval remains pending, and the filing does not confirm a launch date. Even so, the proposed ETF shows how firms such as Strive and Tuttle are trying to build new listed products around the financing tools now used by major bitcoin treasury companies.
