Strive, Inc. (NASDAQ: ASST) shares rocketed 27% on October 24, 2025, closing at $1.10 after a series of strategic Bitcoin-related acquisitions that have reignited investor interest in the firm’s “anti-woke” asset management approach. The surge, which saw trading volume explode to $42.68 million—more than double the average—came amid a broader crypto market rebound, with Bitcoin climbing 3% to $68,500. This ASST stock rally October 2025 marks the company’s strongest single-day gain since its merger completion in September, pushing its market cap above $150 million and drawing praise from proponents of alternative investment strategies. As Strive positions itself as a disruptor in the $100 trillion global asset management industry, the moves highlight a growing appetite for firms challenging traditional ESG-focused funds. With shares up 40% in the past week and 22% on October 23 alone, ASST stock price action reflects renewed confidence in CEO Vivek Ramaswamy’s vision, even as critics question the sustainability of its contrarian bets.
The catalyst for the ASST stock surge was Strive’s announcement of multiple Bitcoin-focused deals, including a $1.3 billion merger with a crypto custody provider and a $200 million acquisition of a Bitcoin mining operation in Texas. These transactions, detailed in an October 23 regulatory filing, aim to integrate direct Bitcoin exposure into Strive’s ETF lineup, appealing to investors seeking inflation hedges without ESG constraints. The firm’s Strive Bitcoin ETF (BTF), launched in July 2025, has already amassed $500 million in assets under management, up 50% quarter-over-quarter, and the new acquisitions could double that figure by year-end. Ramaswamy, a vocal critic of “woke capitalism,” framed the deals as a “direct challenge to BlackRock’s ESG dominance,” positioning Strive as a haven for performance-driven portfolios.
ASST stock news October 2025 has been dominated by this aggressive expansion, with the company leveraging its merger momentum from the September completion of a reverse merger with a SPAC. The deal, valued at $300 million at the time, has since seen shares climb 60% from $0.69 lows, reflecting market validation of Strive’s unique positioning. Trading volume on October 24 hit 38.6 million shares, the highest since the merger, as retail investors and hedge funds piled in. The stock’s beta of 2.1 indicates high volatility, but its 1.5x price-to-book ratio remains attractive compared to peers like ARK Invest’s ETFs at 3x.
Strive’s Bitcoin Strategy: Acquisitions and ETF Growth
Strive’s recent moves center on building a Bitcoin-centric ecosystem, starting with the $1.3 billion merger with a New York-based crypto custody firm that brings 50,000 institutional clients and $10 billion in digital assets. The acquisition, set to close in Q1 2026 pending regulatory nods, will integrate custody services into Strive’s platform, allowing seamless Bitcoin holdings for ETF investors. Complementing this, the $200 million Texas mining buyout adds 5,000 ASIC rigs with 500 MW capacity, positioning Strive to mine 1,000 Bitcoin annually at current hashrates.
The Strive Bitcoin ETF (BTF) has been the star performer, with assets under management reaching $500 million by October 24, a 50% increase from Q3’s start. The ETF’s expense ratio of 0.95% undercuts competitors like BlackRock’s IBIT at 0.25%, but Strive’s “no ESG screens” pitch attracts conservative investors wary of climate-linked exclusions. BTF’s 25% year-to-date return outpaces the S&P 500’s 18%, drawing $100 million in inflows last month alone. Ramaswamy’s strategy targets the $2 trillion Bitcoin market, where institutional adoption has grown 40% in 2025, per CoinShares data.
This focus on Bitcoin aligns with Strive’s anti-woke ethos, launched in 2022 to counter perceived ideological biases in traditional funds. The firm manages $1.5 billion across 10 ETFs, with its Total Market ETF (STXD) up 15% year-to-date by emphasizing performance over social metrics. The acquisitions expand this model into crypto, where Strive aims for $2 billion in AUM by 2026.
Market Reaction and Analyst Views on ASST Stock Surge
The ASST stock price October 2025 rally has been met with enthusiasm from analysts, who see the Bitcoin push as a timely bet in a recovering crypto market. Kavout, in an October 24 note, rated ASST a Strong Buy with a $1.50 target, implying 36% upside, citing the merger’s “strategic diversification.” Startup News FYI highlighted the 27% jump as a response to the $1.3 billion deal, projecting 50% revenue growth to $50 million in 2026 from custody fees and mining yields.
AAII’s October 24 analysis noted a 37.09% weekly drop earlier but praised the rebound as “buy-the-dip validation,” with institutional ownership at 45% signaling confidence. Benz inga’s October 27 report tied the surge to Ramaswamy’s “anti-woke” narrative, forecasting $2 billion AUM if Bitcoin hits $100,000 by year-end. Consensus targets average $1.40, with 70% Buy ratings, though volatility remains high with a 120% implied move for November options.
Critics like those at StocksToTrade warn of risks, with ASST down 29.58% in September before the rally. The stock’s 2.5 beta amplifies crypto swings, but its 1x price-to-sales offers value versus peers at 3x.
Key Takeaways
- Stock Surge: ASST +27% to $1.10 on October 24; weekly +40%, YTD +60% from merger.
- Bitcoin Deals: $1.3B custody merger + $200M Texas mining buyout; targets 1,000 BTC mined annually.
- ETF Growth: Strive Bitcoin ETF (BTF) $500M AUM (+50% Q3); 25% YTD return vs. S&P 18%.
- Analyst Optimism: Kavout Strong Buy $1.50; Benz inga forecasts $2B AUM at $100K BTC.
- Company Profile: $1.5B AUM across 10 ETFs; anti-woke focus challenges ESG norms.
- Risks: High volatility (beta 2.5); September -29.58%; regulatory nods for Q1 2026 close.
Future Outlook: Crypto Expansion and Market Challenges
Strive’s Q4 earnings on November 12 will detail merger integration and BTF inflows, with consensus revenue at $25 million (+20%). Success in custody onboarding could add $50 million in fees, pushing AUM to $2 billion by 2026. Ramaswamy’s presentation at the New York Principled Business Summit on October 15 reinforced the strategy, drawing 500 attendees and $100 million in commitments.
Challenges include regulatory scrutiny on crypto ETFs and competition from BlackRock’s $20 billion IBIT. If Bitcoin sustains above $65,000, ASST could test $1.50, but a drop to $50,000 risks $0.80 support.
In the asset management arena, Strive’s Bitcoin focus offers a contrarian edge, where performance trumps ideology. As crypto matures, the firm’s acquisitions could position it for outsized gains, rewarding believers in its disruptive ethos. In investing’s evolving landscape, Strive charts a bold course.
