Vanguard, one of the world’s largest asset managers with over $12 trillion in global assets under management, has substantially increased its exposure to Strategy (MSTR), the leading Bitcoin treasury company, through its Mid-Cap Value ETF (VOE).
Recent disclosures show that Vanguard Mid-Cap Value ETF added 1,210,422 shares of Strategy during the latest quarter. The purchase is valued at approximately $195 million.
The ETF previously held 832,846 shares. Following the addition, its total holdings now stand at 2,043,268 shares, currently worth roughly $340 million at Strategy’s recent share price around $166.50.
Strategy currently owns 780,897 Bitcoin on its balance sheet and is expected to purchase over 25,000 Bitcoin today, which would make it the first company in history to own more than 800,000 Bitcoin.
Strategy has rapidly established itself as the premier corporate Bitcoin treasury vehicle, with its aggressive accumulation strategy delivering leveraged exposure to Bitcoin’s price performance. The company’s stock has become a prominent name in the mid-cap segment, attracting growing institutional interest from both active and passive vehicles.
VOE, which tracks the CRSP US Mid Cap Value Index — a benchmark focused on mid-sized U.S. companies that exhibit value characteristics — now carries a meaningful position in Strategy. This increase reflects ongoing rebalancing within the ETF as high-conviction Bitcoin treasury plays gain weight in the mid-cap value universe.
The filing underscores continued mainstream institutional adoption of Bitcoin treasury companies. As Strategy continues to expand its Bitcoin holdings, further adjustments by large asset managers like Vanguard are expected in upcoming quarters.
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