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Over $14 Billion in Preferred Shares Are Outstanding, and Strategy Plans to Adjust Dividends to Be Paid Daily

Strategy Executive Chairman Michael Saylor proposed adjusting the dividend payment frequency of the company's multi-billion-dollar preferred shares from biweekly or quarterly to daily, with an annualized yield of up to 12% on the related securities. Strategy currently has over $14 billion in outstanding preferred shares; the company previously raised funds by selling common stock to purchase Bitcoin, and after the premium of common stock relative to Bitcoin assets disappeared, it shifted to issuing perpetual preferred shares.

The shareholder vote on this proposal will end on October 28.

Robinhood Launches AI Trading Agent, Perpetual Contracts, and Weekend Stock Trading

Robinhood announced at the HOOD Summit held in Houston, Texas, that it will launch AI agents capable of executing trades, crypto perpetual contracts with up to 10x leverage, weekend trading for U.S. stocks, extend options trading hours, offer more intraday margin, and introduce contracts based on corporate earnings indicators.

Robinhood Agents allow customers to create AI agents within the app, select models from OpenAI or Anthropic, and authorize them to access separate trading accounts. The agents can analyze markets, build watchlists, and trade stocks, options, and digital assets. The feature called Loops enables customers to place long-term instructions, monitor markets when specific conditions arise, and execute strategies. By default, each transaction requires customer approval; users can disable this protection. When agents go live, they cannot use margin and can only utilize funds from dedicated accounts.

Bitwise Report: 15 Large Institutions Increased Their Holdings Instead of Selling During Bitcoin's Decline

Bitwise Head of Research Ryan Rasmussen noted in a report on institutional cryptocurrency adoption that, although the price of Bitcoin fell from $125,000 to $60,000, all 15 large institutions surveyed by Bitwise did not sell Bitcoin; some institutions instead increased their holdings, and participants include pension funds, endowments, foundations, and sovereign wealth funds.

Rasmussen said that these institutions tend to view Bitcoin as a tool to hedge fiat currency depreciation (similar to gold), rather than a speculative asset that bets on short-term price fluctuations. Some institutions allocate approximately 2%–8%, with Wells Fargo’s related allocation at about 2%–3%; he also mentioned that some sovereign wealth funds are reducing gold allocations and shifting funds into Bitcoin.

Riot Platforms Closes $200M Coinbase Bitcoin Credit Line

Riot Platforms fully repaid its Coinbase Credit borrowing and closed the $200 million Bitcoin-backed facility, releasing the lender’s claims on pledged assets after settling principal and accrued interest on Sep. 21, the company disclosed in a Form 8-K filed with the U.S. Securities and Exchange Commission on Sep. 25.

The facility allowed multiple drawdowns up to an aggregate principal of $200 million, backed by assets held with Coinbase Custody (eligible pledged assets included Bitcoin, USDC and cash). The borrowing began as a $100 million facility on Apr. 22, 2025 and was amended May 20, 2025 to $200 million; a later amendment extended maturity to Apr. 20, 2027 and set a fixed annual rate of 6.15%. Riot reported holding 11,380 $BTC at June 30, including 5,821 $BTC pledged as collateral (valued about $340.7 million at $58,527 per coin) and a total Bitcoin balance of approximately $666 million.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Tuesday was $66.19 million. The total net asset value of Bitcoin spot ETFs is $107.96 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.43%.

The Bitcoin spot ETF with the highest net inflow on September 29 was iShares Bitcoin Trust, with a net inflow of $51.09 million, according to SoSoValue.