Strive Asset Management
American investment firm
From Wikipedia, the free encyclopedia
Strive Asset Management is an American investment management firm founded in 2022. The firm operates mutual funds, exchange-traded products (ETPs), and wealth management services. Headquartered in Columbus, Ohio, it operates as a subsidiary of Strive Enterprises, Inc. and is registered with the U.S. Securities and Exchange Commission (SEC) as an investment adviser.[1][2]
| Company type | Private (subsidiary of Strive Inc.) |
|---|---|
| Nasdaq: ASST | |
| Industry | Investment management |
| Founded | 2022 |
| Founders | Vivek Ramaswamy, Anson Frericks |
| Headquarters | , U.S. |
Key people | Matt Cole (Chairman and CEO) Ben Werkman (Chief Investment Officer) Arshia Sarkhani (Chief Marketing Officer) |
| Services | Exchange-traded funds, Mutual funds, Wealth management |
| Parent | Strive Inc. |
| Subsidiaries | Asset Entities, Inc. |
| Website | www.strive.com |
History
Strive Asset Management was co-founded in early 2022 by Vivek Ramaswamy and former Anheuser-Busch president Anson Frericks.[3] The firm is headquartered in Columbus, Ohio.[4][5] It raised about $20 million from outside investors,[6][7] including Peter Thiel, JD Vance, and Bill Ackman.[8][9][10]
Strive's flagship fund, the exchange-traded fund DRLL, launched in 2022 as an "anti-woke" energy sector index fund.[11][12][13][14][15][8] The fund focuses on the energy sector without incorporating environmental, social, and governance (ESG) criteria.[16][17] Additional ETFs, mutual funds, and a proxy voting platform were subsequently introduced to facilitate shareholder participation in corporate governance.
By November 2022, Strive reported managing over $500 million in assets under management.[18] Vivek Ramaswamy served as executive chairman[9][10] before resigning in February 2023 to focus on his presidential campaign.[4][19]
By 2024, the firm launched direct indexing services in partnership with Fidelity and Charles Schwab, providing customized portfolio management, tax-loss harvesting, and proxy voting tools.[20][21] In 2025, Strive spun off its registered investment adviser (RIA) arm into an independent firm and consolidated advisory services under model portfolios and a collective investment trust (CIT).[22][23][24]
Digital asset initiatives
In September 2025, Strive announced plans to enter the digital asset market with a Bitcoin Bond ETF, focused on bonds issued by companies acquiring Bitcoin.[25][26][27] The announcement included a Board of Directors comprising Mahesh Ramakrishnan, co-founder of Escape Velocity (EV3); Pierre Rochard, chief executive of The Bitcoin Bond Company; James Lavish, managing partner of The Bitcoin Opportunity Fund; Avik Roy, co-founder of the Foundation for Research on Equal Opportunity; and Jonathan Macey, professor of corporate law at Yale University, among others.[28]
In 2025, Strive merged with Asset Entities to form a publicly traded company under the Strive brand.[29][30][31][32][33] The merger incorporated the companies’ Bitcoin holdings into the combined entity’s treasury[34][26][35] and was supported by a $750 million private investment in public equity, with potential additional funding through warrants.[36][37]
In September 2025, the firm announced the acquisition of Semler Scientific in an all-stock deal valued at $1.3 billion, increasing its combined Bitcoin treasury above 10,900 BTC.[38][39] Strive also explored purchasing claims related to 75,000 BTC from Mt. Gox.[40]
Operations
Strive operates as a registered investment adviser providing asset management, fund distribution, proxy voting, and corporate governance services. Its investment products include sector-based ETFs, actively managed funds, and a direct indexing platform with shareholder engagement tools.[22] The firm submits shareholder proposals and correspondence to U.S. corporations regarding governance and diversity policies.[41]
Reception
In 2023, the firm acquired a stake in McDonald’s Corporation and requested changes to the company’s diversity policies as part of its governance efforts.[42]
In 2025, Morningstar assigned Strive a Below Average Parent Pillar rating, citing management turnover and strategic transitions, while noting low fees across its ETF and mutual fund products.[43]