Strategy, the publicly traded bitcoin company, has become the largest single position in a multi-billion BlackRock fund, Crypto Insiders reported on November 6. The fund is PFF, an income-focused exchange-traded fund run by BlackRock’s iShares unit that tracks U.S. preferred stocks and hybrid securities and holds 454 investments.
According to the iShares holdings list dated November 5, Strategy’s largest preferred share series weighs 3.50% of the fund, equal to about 360 million euros in fund assets by the article’s calculation. Other Strategy series weigh 0.48%, 0.37% and 0.36%, so its combined exposure is larger. Behind it come Boeing at 3.21%, Wells Fargo Series L at 2.14% and two Alphabet positions at 2.12% and 2.08%.
The article adds that VanEck’s PFXF fund held an even larger share on October 29, with Strategy’s largest series at 7.63% of assets and all its series together above 10%.
Crypto Insiders stresses that PFF does not hold bitcoin directly. Investors own Strategy’s preferred shares, which carry no claim on the coins, and Strategy has said the preferred shares are not backed by its bitcoin holdings. Its main preferred stock, STRC, targets a 12% annual distribution, which can be adjusted and is not guaranteed. The article notes Strategy sold some bitcoin this year to help fund dividend payments and STRC buybacks, citing the company’s third-quarter results.
The numbers point to how deeply the company’s preferred stock has spread into mainstream income funds.
Track the market yourself with AiTraderView’s FREE tools: Crypto Cockpit for charts and 75+ indicators, Crypto Screener to find setups, and Crypto Portfolio to follow your holdings. Just create a FREE account and try them yourself!
Sources:
⚠️ RISK WARNING & AI DISCLOSURE
- This information is generated by Artificial Intelligence (AI) and complex algorithms. While advanced, these systems can contain errors or inaccuracies and are for educational purposes only.
- Technical analysis provides no guarantees; this information is purely informative.
- All discussed scenarios are hypothetical and do not constitute predictions or expectations.
- Past performance is not an indicator of future results.
- This is not financial advice and is not intended as a call-to-action for the reader.
- No implicit direction is claimed, and no specific behavior of market participants is suggested.