SKN | BNY Mellon Increases Strive Stake 28% to $7 Million Ahead of 13F Filing Deadline

Key Takeaways:

• BNY Mellon increased its Strive holdings by 28% in the third quarter to 237,100 shares valued at $6.97 million as of September 30, 2026.
• The increase in the position’s reported value was driven primarily by ASST’s share-price appreciation, with its implied price rising from $10.91 to $29.41.
• Remaining institutional 13F filings due November 16 could provide further insight into major managers’ exposure to Bitcoin-related equities and exchange-traded funds.

BNY Mellon Expands Its Strive Position

BNY Mellon increased its stake in Strive (ASST) by 28% during the third quarter, according to a Form 13F filed on November 5. The position reached 237,100 shares, valued at approximately $6.97 million based on September 30 prices.

The bank added 51,544 shares to its previous position of 185,556 shares reported at the end of June. Over the same period, the implied share price increased from approximately $10.91 to $29.41. Consequently, the disclosed position more than tripled in market value, reflecting substantial share-price appreciation alongside the increase in the number of shares held.

The distinction between share accumulation and market appreciation is important when interpreting institutional filings. BNY’s larger reported position reflects both factors, but the increase in its dollar value was primarily attributable to ASST’s rising share price.

A Form 13F provides a quarterly snapshot of reportable securities rather than a record of individual transactions. BNY’s filing consolidates holdings across its organization, potentially including client accounts, funds and discretionary portfolios. It therefore does not establish that the bank invested its own capital in Strive, nor does it confirm that the position remained unchanged after September 30.

BNY reported $63.4 trillion in assets under custody and/or administration and $2.2 trillion in assets under management at the end of the quarter. Its Strive exposure remains relatively small compared with other Bitcoin-linked holdings disclosed in the same filing. The bank reported 1,056,230 Strategy (MSTR) shares valued at $161.7 million, alongside 162,072 shares of BlackRock’s iShares Bitcoin Trust (IBIT), worth approximately $7.67 million.

Institutional Filings Put Bitcoin Exposure Under Scrutiny

The November 16 filing deadline is approaching for institutional investment managers required to disclose qualifying securities holdings. Managers exercising investment discretion over at least $100 million in relevant securities generally have 45 days after quarter-end to submit their 13F reports.

Because the 45-day period following September 30 ends on a Saturday, the deadline falls on Monday, November 16.

JPMorgan Chase submitted its third-quarter filing on November 12. As of Thursday morning, Wells Fargo, Millennium Management and Schonfeld Strategic Advisors had not yet appeared in the SEC’s filing system for the period. Their disclosures could provide additional information about institutional exposure to Bitcoin exchange-traded funds and publicly traded digital-asset treasury companies.

BNY filed relatively early, on November 5, making its increased Strive position public ahead of several other major institutional disclosures.

Other Major Banks Increase Bitcoin ETF Holdings

Recent filings indicate that traditional financial institutions continued to report substantial positions in Bitcoin-linked investment products during the third quarter.

Barclays disclosed 3,942,900 IBIT shares valued at approximately $186.7 million as of September 30, representing a 48% increase from the 2,658,147 shares reported three months earlier.

Citigroup also expanded its exposure. Its filing showed 521,144 IBIT shares worth approximately $24.7 million, compared with 347,114 shares at the end of June. The bank additionally reported a new position of 1,636,387 shares in Fidelity’s Wise Origin Bitcoin Fund (FBTC), valued at approximately $118.9 million.

These disclosures should be interpreted carefully. Institutional 13F reports can include securities held for clients, managed portfolios and trading activities. They do not necessarily demonstrate that the reporting institution has committed its own balance-sheet capital to Bitcoin or related companies.

Strive’s Expanding Bitcoin Treasury

Strive has continued accumulating Bitcoin as part of its corporate treasury strategy. The company reported holdings of 43,153 Bitcoin after purchasing an additional 29 coins during the week ending November 6.

Its growing treasury position has increased its visibility among institutional investors evaluating publicly traded companies with direct exposure to digital assets. Strive remains one of the larger publicly listed Bitcoin treasury companies, behind Strategy.

Traditional asset managers have also continued increasing exposure to Bitcoin-related equities. Amundi, Europe’s largest asset manager, raised its Strategy position by 44% during the same quarter, reflecting continued institutional interest in companies linked to Bitcoin despite a cooling spot market during the autumn period.

Closing Insights

BNY Mellon’s increased Strive position highlights the importance of distinguishing between institutional share accumulation and changes in market valuation. While the bank reported a 28% increase in its share count, most of the rise in the position’s dollar value came from ASST’s substantial price appreciation.

The November 16 filing deadline represents the next important disclosure point. Reports from remaining large institutional managers may reveal whether exposure to Bitcoin treasury companies and spot Bitcoin ETFs continued expanding or underwent portfolio adjustments during the third quarter.

For wealth managers and institutional investors, these filings offer useful visibility into reported market exposure, but they should not be treated as definitive evidence of proprietary investment decisions. Understanding the structure and limitations of institutional disclosures remains essential when assessing the broader adoption of digital assets within traditional financial markets.

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