Vanguard Group, a colossal asset manager overseeing $12 trillion in assets, has notably expanded its stake in Strive (ticker: $ASST).
Data recently released by BitcoinTreasuries reveals that Vanguard now holds 27.63 million shares of this Bitcoin treasury firm, representing an investment valued near $17.6 million.
An Unexpected Move
Strive stands out as one of the most assertive newcomers competing in the corporate Bitcoin arena.
Founded initially in 2022 by Vivek Ramaswamy as an “anti-ESG” investment firm, Strive dramatically shifted its strategy toward the end of 2025. The company rebranded itself as a “Bitcoin Treasury Company,” focusing primarily on accumulating Bitcoin to enhance shareholder returns.
After acquiring Semler Scientific in January 2026, Strive’s holdings surged to over 13,130 BTC—worth roughly $1 billion—placing it among the top ten corporate holders worldwide.
The Timeline Behind Vanguard’s Investment
Vanguard’s position in Strive appears more tied to its extensive passive index fund mandates than a deliberate bet on cryptocurrency.
This connection dates back to when Strive was known as Asset Entities Inc., prior to their merger in 2025. Since Vanguard manages broad market index funds such as the Vanguard Total Stock Market Index Fund, it must own nearly every publicly traded U.S. company eligible for investment.
The recent uptick in shares is likely due to technical factors: Strive issued new stock—including a substantial $225 million preferred share offering in January 2026—to finance aggressive Bitcoin acquisitions. Consequently, fluctuations occurred within market indices’ weightings.
This situation forces passive fund giants like Vanguard to purchase additional shares so their portfolios accurately mirror benchmark indices.
In effect, through these mechanisms, millions of ordinary investors holding standard index funds gain indirect exposure to Bitcoin via their investments with firms like Strive.