Points of Focus

• $DGCR targets monthly yield through Bitcoin-backed corporate debt.
• Strive Asset Management will serve as sub-adviser, with the fund focusing on STRC Stock and SATA Stock.
• Preferred equity and total return swaps are used to give a fixed-income alternative to common stock.

Strive Inc. has filed a new SEC filing, adding another layer to the increasing list of cryptocurrency-linked ETFs. ETF Opportunities Trust filed the T-Strive Digital Credit ETF prospectus on March 30, 2026, using the ticker $DGCR. Unlike spot Bitcoin products, this one focuses on Digital Credit Preferred Securities, which are preferred shares and related derivatives issued by corporations that use Bitcoin as a treasury asset.

This move is not intended to chase spot price activity, but rather to package Bitcoin treasury corporations’ debt and preferred layers into a single, tradable ETF wrapper. The fund intends to focus on two particular securities: Strive’s own SATA Stock and Strategy Inc.’s Variable Rate Series A Perpetual Preferred Stock (STRC). It may also employ leverage and derivatives to increase income, subject to regulatory constraints.

The future of income investing… is already here $SATA pic.twitter.com/aaxMrhFQLX

— Strive (@Strive) March 30, 2026

The mechanics of $DGCR

According to the registration, the fund will not own Bitcoin directly. Rather, it buys the preferred equity layer that Bitcoin treasury companies issue to fund their stacks.

Preferreds provide a fixed (or adjustable) coupon and indirect exposure to the underlying Bitcoin Treasury strategy since they are positioned above common equity but below debt in the capital stack. When a firm like Strategy or Strive obtains more capital through preferreds to buy more Bitcoin, $DGCR gets the income without ever owning spot BTC.

By focusing on Digital Credit Preferred Securities, these securities function as high-yield debt instruments supported by the issuers’ underlying Bitcoin holdings. STRC, for example, currently pays a monthly dividend of 11.5%, while Strive’s SATA yield has increased to 12.75%. $DGCR seeks to increase these returns by using leverage and total return swaps, providing a smart substitute for conventional fixed-income products.

Strive’s sub-adviser role and timing

Strive Asset Management operates as a sub-adviser for the digital asset aspect, while Tuttle Capital Management acts as the primary adviser. The filing lands on the same day. Strive, which recently joined the wealthy group of corporate holders, is active in the Bitcoin treasury market.

Due to the quick growth of corporate Bitcoin treasuries, a demand is created for regulated yield instruments that are positioned above equity in the capital structure. Investors can have access to that layer through the ETF rather than directly managing balance-sheet risk.

Market implications, risks and the bigger picture

The fund is not designed to be diversified and will be significantly weighted toward only two issuers. The preferred prices and the ETF’s NAV will be directly affected if Strategy or Strive fail, whether due to a significant decline in Bitcoin that puts strain on their capacity to service the preferred coupons, a change in corporate treasury policy, or just plain dilution.

Another factor is leverage, which can boost income but increases losses when underlying credit weakens. Regulatory approval is also not guaranteed, and even if it lands, flows are uncertain in an already crowded ETF market filled with spot Bitcoin, Ethereum, and treasury-product wrappers.

No shares may be sold until the SEC gives its approval since the registration statement is not yet operative.