Strive Inc (NYSE American: ASST) is an asset management and bitcoin treasury company that operates exchange-traded funds and accumulates bitcoin as a primary corporate asset. Revenue comes from investment advisory fees charged on its ETF products, which totaled $5.7 million combined across the Predecessor and Successor periods of FY2025, up 58.2% from $3.6 million in FY2024. The company also carries a legacy healthcare segment built around the QuantaFlo device, which tests patients for peripheral artery disease and relies on third-party payor reimbursement from Medicare, Medicaid, and private insurers. Strive holds bitcoin acquired through open-market purchases and strategic transactions: as of March 17, 2026, total holdings included approximately 7,627 bitcoin acquired in 2025 at an aggregate cost of roughly $863.0 million, plus approximately 5,048 bitcoin obtained through its acquisition of Semler Scientific and 953 additional bitcoin purchased at an average price of approximately $81,092 per bitcoin. The company has not sold any bitcoin to date. Strive became the successor entity on September 12, 2025, following its merger with Asset Entities Inc.

Revenue model

Investment advisory fees on ETF products are the primary operating revenue stream: $1.495 million (Successor period September 12 to December 31, 2025) and $4.187 million (Predecessor period January 1 to September 11, 2025), totaling approximately $5.7 million for the combined FY2025 periods versus $3.592 million in FY2024. A small healthcare revenue line tied to QuantaFlo device usage and third-party payor reimbursement also exists. Bitcoin holdings are carried at fair value, generating unrealized gains or losses rather than operating cash income.

Products and services

ETF investment advisory products generating fee-based revenue. QuantaFlo, a medical device used to test patients for peripheral artery disease, sold into healthcare provider settings dependent on CMS and private payor reimbursement. A bitcoin treasury holding approximately 13,628 bitcoin as of March 17, 2026, custodied at multiple U.S.-based institutional custodians using cold storage.

Customers and end markets

ETF investors and institutional asset management customers for the advisory fee business. Healthcare providers and health plans for QuantaFlo, with reimbursement dependent on CMS Medicare and Medicaid programs and private managed care payors.

Value-chain role

Asset manager and ETF sponsor on the investment side. Bitcoin acquirer and treasury holder, sourcing bitcoin through open-market purchases, equity and fixed-income capital raises, and strategic acquisitions. Medical device provider through the QuantaFlo healthcare segment.

Geographic exposure

U.S.-focused operations. Bitcoin held at U.S.-based institutional custodians, which may hold assets in the United States or other territories.

Source: SEC 10-K, filed 2026-03-19

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