Strategy’s STRC Dividend Move and Tokenizing the $70T U.S. Equity Market

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4.7 • 698 Ratings

🗓️ 20 April 2026

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tokenizing the $70T U.S. equity market. On this episode of CoinDesk's Public Keys from the New York Stock Exchange, host Jennifer Sanasie breaks down Strategy's proposal to shift STRC preferred stock dividends from monthly to semi-monthly, and unpacks Wall Street's deepening crypto push: from Goldman Sachs's new Bitcoin Premium Income ETF filing to Morgan Stanley's record-breaking ETF launch. Brett Redfearn, President of Securitize, joins to discuss his new role, the $30 billion in tokenized assets on chain, the outlook for the Clarity Act. NYSE Senior Market Strategist and Head of the MAC Desk Michael Reinking weighs in on the macro picture heading into the week, Bitcoin's correlation with tech stocks, DeFi hacks, and ETF flows. Plus, AVAX One CEO Jolie Kahn explains her company's treasury strategy around Avalanche and its new initiative to develop an AI data center in Alberta, Canada. - Timecodes: 00:00 Welcome to Public Keys 00:24 Strategy Proposes Semi-Monthly STRC Dividends 02:05 Tokenized Assets On Chain Near $30B 02:13 Securitize's Brett Redfearn Joins Public Keys 05:53 Why Securitize Built Inside the Regulatory Framework 06:37 The Clarity Act and Market Structure 11:43 Tokenizing the $70 Trillion US Equity Market 13:51 NYSE's Michael Reinking on the Week Ahead 15:20 Bitcoin's Correlation With Tech Stocks 16:30 DeFi Hacks and Institutional Overhang 17:54 What's Driving $1B in BTC ETF Inflows 20:26 Bitcoin Miners Pivot to AI Data Centers 21:52 Goldman Sachs Files Bitcoin Premium Income ETF 22:38 Morgan Stanley's Record BTC ETF Launch 22:53 BTC ETFs see $1B in Inflows 24:44 AVAX One CEO Jolie Kahn Joins Public Keys 26:17 AVAX Bull and Bear Case 27:41 Inside AVAX One's Alberta AI Data Center Plan 30:45 Fear and Greed Index at 29 - This episode was hosted by Jennifer Sanasie.

Transcript

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0:00.0	On today's public keys at the New York Stock Exchange, Micro Strategy is shaking up its high-yield preferred stock strategy,
0:05.2	and Wall Street giants like Morgan Stanley and Goldman Sachs are doubling down on digital assets.
0:10.2	I'm Jen Sanasi. Let's get you up to speed on what happened over the weekend. On Friday
0:25.1	Strategy, the Bitcoin Treasury company chaired by Michael Saylor proposed a key change to its high
0:30.3	yield STRC preferred stock, moving dividend payments from monthly to twice a month. Importantly,
0:36.1	this doesn't change the annual dividend rate, which remains at 11.5%.
0:39.3	Instead, the goal is to smooth out price swings, improve liquidity and drive demand.
0:44.3	STRC has already seen strong uptake and volatility has dropped significantly from 13% in its early months to 2.1% over the past two months.
0:53.3	Strategy believes more frequent payouts could reduce the typical post-dividend price drop
0:58.0	and keep the stock traded closer to its $100 par value.
1:02.0	That matters because of STRC dips below par.
1:05.0	The company can't issue new shares through its at-the-market program,
1:08.0	a key tool it uses to raise capital for Bitcoin purchases.
1:11.6	Now, voting on the proposal runs through June 8th with the first semi-monthly payment expected July 15th, if approved.
1:18.6	There was some reaction to this on social media over the weekend on X Adam Livingston leaned bullish,
1:23.9	saying the math could ultimately make strategy the most valuable company in the world.
1:27.6	While Bitwise advisor Jeff Park called the shift to semi-monthly dividends revolutionary for corporate finance,
1:34.0	noting there are currently no issuer-created instruments offering payouts that frequently.
1:38.4	He also pointed out that retail investors have been gravitating towards more frequent income products
1:43.3	like weekly payout
1:44.4	ETFs and daily accrual money market funds.
1:46.7	But not everyone is convinced.
	...

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