BNY Mellon Lifts Strive Stake 28% in Q3 13F Filing Ahead of Deadline
BNY Mellon raised its holding in Bitcoin treasury company Strive to 237,100 shares as of Sept. 30, a 28% increase disclosed in a Nov. 5 Form 13F. The filing values the position at about $6.97 million, though sources differ on the figures and on how much of the dollar increase reflects share price gains.
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What the Filing Shows
Bank of New York Mellon increased its Strive (ASST) position to 237,100 shares as of Sept. 30, up 51,544 shares, or 28%, from 185,556 shares at June 30, according to a Form 13F filed Nov. 5. Bitcoin Magazine values the Sept. 30 stake at $6.97 million. Crypto Briefing reports the same share count but cites a value of about $6.9 million at the time of reporting, and says the position fell to roughly $5.5 million by Wednesday's close after Strive's stock declined. The sources agree on the share count and the 28% rise but differ on the dollar value, which depends on the date and price used.
Share Price Versus Share Count
Most of the dollar change in the position reflects the stock rather than new buying. Bitcoin Magazine calculates an implied ASST price of $10.91 at June 30 and $29.41 at Sept. 30, which would put the June position at about $2.02 million. On those figures the stake more than tripled in value while the share count rose 28%. Neither source treats the share price move as a comment on Bitcoin itself, and the stock figures here are derived from the filings rather than separately reported.
What a 13F Does and Does Not Reveal
A 13F is a point-in-time snapshot and does not show a single proprietary trading decision. Bitcoin Magazine notes that BNY files a combined report covering holdings across its group, so the Strive line may include client, fund and discretionary positions. The bank also may have changed the holding after Sept. 30. Crypto Briefing describes the exposure as indirect, since it is held through Strive's equity rather than bitcoin itself. BNY reported $63.4 trillion in assets under custody and/or administration and $2.2 trillion under management as of Sept. 30, figures that Crypto Briefing rounds to $45 trillion and $2.1 trillion.
Context Across Bitcoin-Linked Holdings
The Strive line is small against other bitcoin-linked positions in the same filing. BNY held 1,056,230 Strategy (MSTR) shares worth $161.7 million and 162,072 shares of BlackRock's iShares Bitcoin Trust (IBIT) worth $7.67 million, which nearly doubled from 85,282 shares at June 30. Barclays reported 3,942,900 IBIT shares worth $186.7 million in a Nov. 6 filing, and Citigroup reported 521,144 IBIT shares and a new $118.9 million position in Fidelity's FBTC. Strive itself held 43,153 bitcoin after adding 29 coins in the week through Nov. 6, according to an 8-K.
Filing Deadline
Managers with at least $100 million in 13F securities have 45 days after quarter-end to file. That window ends Monday, Nov. 16, because Nov. 14 falls on a Saturday. JPMorgan Chase filed on Thursday. Wells Fargo, Millennium Management and Schonfeld Strategic Advisors had not appeared on EDGAR as of Thursday morning, so their bitcoin-related holdings remain unpublished.
Why It Matters
For Traders
Strive's share price moved sharply over the quarter, so reported dollar values for institutional stakes can change quickly and should be checked against current prices.
For Investors
Institutional 13F disclosures show traditional managers still holding bitcoin proxies, which indicates continued interest in indirect bitcoin exposure through equities and ETFs.
For Builders
Institutional holdings are reported through equity and ETF wrappers, so infrastructure serving these products should account for 13F-based reporting and its snapshot limitations.
This article is for information only and is not financial advice. Read the full disclaimer.
