Capital Group’s SMALLCAP World Fund has taken a $33.6 million position in Strive Inc., a firm known for pushing bitcoin treasury strategies. The fund now holds 2.93 million shares of the company, according to a recent filing. The move underscores a broader trend: big money managers are increasingly willing to bet on companies that hold crypto on their balance sheets.
The stake
The filing, dated this week, shows the SMALLCAP World Fund owns roughly 2.93 million shares of Strive. At current prices, that stake is worth about $33.6 million. Capital Group is one of the world’s largest asset managers, and the SMALLCAP World Fund focuses on smaller companies with growth potential. Strive, which has positioned itself as a pro-bitcoin corporate treasury firm, fits that bill.
Institutional investors have been slow to embrace bitcoin treasury strategies — the practice of holding bitcoin as a primary reserve asset. Most have stuck with traditional corporate treasuries or gold. Capital Group’s stake signals that at least one major fund sees enough value in Strive’s approach to take a meaningful position. It’s a bet that bitcoin adoption among corporations is not a fad, but a durable trend.
Institutional shift
This isn’t the first time Capital Group has dipped into crypto-adjacent bets, but the size of the Strive position stands out. The SMALLCAP World Fund manages billions in assets, so a $33.6 million stake is a calculated wager, not a token allocation. It suggests the fund’s analysts have done the homework and see Strive’s treasury strategy as a competitive advantage, not a gamble.
What’s next
Strive is scheduled to report its next quarterly earnings in early August. Investors will be watching to see if the company adds more bitcoin to its treasury or if it starts generating returns from its holdings. Capital Group’s filing doesn’t reveal any future plans, but the disclosed stake is a clear vote of confidence. For now, the market is taking note.
