BlackRock's PFF ETF Holds $380M in MicroStrategy Preferred Stock, Linking to Bitcoin (BTC) Exposure

BlackRock's iShares Preferred and Income Securities ETF (PFF) holds a significant position valued at approximately $380 million in MicroStrategy's Series A preferred stock. This investment creates a notable link between the traditional income-focused ETF and the cryptocurrency market, as MicroStrategy is widely known for its substantial Bitcoin (BTC) treasury. The preferred equity, which pays a dividend, offers a different risk-return profile compared to MicroStrategy's common stock. This move by the world's largest asset manager provides indirect exposure to Bitcoin's performance for PFF investors, blending conventional fixed-income strategies with digital asset innovation. Analysts highlight this as a key example of the growing institutional integration of crypto-related assets into mainstream financial products.