DCAP ETF to launch with 50/50 allocation to STRC and SATA

SATA: SATA is the Variable Rate Series A Perpetual Preferred Stock issued by Strive, Inc., structured as a Bitcoin treasury vehicle that pays variable dividends to support the issuer's Bitcoin holdings. In the context of the DCAP ETF, it represents one of the two primary investments expected at launch, comprising roughly half of the initial portfolio alongside STRC. Strive maintains an affiliate relationship with the ETF's sub-adviser but operates under walls preventing direct input on SATA-related decisions for the fund. STRC: STRC is the Variable Rate Series A Perpetual Stretch Preferred Stock issued by Strategy Inc., a Bitcoin treasury company that uses the instrument to support its corporate Bitcoin strategy. Within the DCAP ETF news, it forms the other half of the fund's expected initial 50/50 allocation with SATA. The ETF's active management approach allows flexibility in weighting STRC based on factors like valuation and liquidity while maintaining the overall focus on Bitcoin treasury preferred securities. Strive: Strive, Inc. is a Bitcoin-focused company that issues its own perpetual preferred stock to fund Bitcoin acquisitions on its balance sheet. In the DCAP ETF news, Strive serves as the sub-adviser to the fund while being affiliated with one of its primary holdings. The structure creates a noted separation where Strive cannot influence investment decisions regarding its own securities within the ETF. DCAP ETF: The T-Strive Digital Credit Preferred Income ETF (DCAP) is an actively managed exchange-traded fund that seeks current income through investments in preferred securities issued by Bitcoin treasury companies. Launched on September 24, 2026, it focuses at inception on a roughly equal allocation to two specific preferred stocks. The fund's sub-adviser relationship with Strive incorporates explicit restrictions on research and decision-making authority over affiliated holdings. ETF Structure: The DCAP ETF employs a sub-adviser arrangement with explicit restrictions preventing Strive from providing research on or making decisions about its own SATA preferred stock despite the fund's significant allocation to it. Product Launch: The T-Strive Digital Credit Preferred Income ETF launched on September 24, 2026, as the first U.S. ETF dedicated to income from Bitcoin treasury company preferred securities. Investment Focus: DCAP targets preferred securities from Bitcoin treasury companies, with its initial portfolio expected to concentrate on just two issuers through their respective perpetual preferred instruments.