Preferred share trading tied to crypto companies picked up sharply in 2026, with normalized monthly volume reaching about $13 billion in June. The jump was driven mainly by STRC and a growing number of newly listed preferred securities.
The source article says that what used to be a niche, bespoke financing market led by financial institutions such as banks and insurers is being reshaped by crypto companies including Strategy into a broader asset class with stronger liquidity and more persistent trading activity.
Market development is becoming a bigger signal than volume alone
Beyond the rise in turnover, the article points to a maturing preferred-share market. As liquidity improves, these instruments are becoming more efficient in terms of coupon rates and issuer quality. The piece also says secondary-market depth, relative value, and the durability of investor demand are improving.
The financing structure is moving beyond crypto into mainstream tech
The trend is beginning to extend outside the digital-asset sector. In June, Alphabet launched its first convertible preferred stock offering as part of an equity financing package worth more than $80 billion, with proceeds aimed at AI infrastructure.
Also in June, Super Micro Computer announced that it would issue $3.75 billion in convertible preferred stock as part of a $7 billion capital raise for AI expansion. In the article’s framing, that highlights the growing importance of preferred shares as a scalable financing tool across industries.
Methodology and disclosure
The selected universe includes STRK, STRF, STRD, STRC, SATA, and BMNP, with trading volume normalized by liquidation preference. The article says normalized turnover is calculated by multiplying reported share volume by each security’s stated $100 liquidation preference.
It also notes that the measure does not represent actual dollar trading volume and cannot, on its own, establish market liquidity. The data source is Twelve Data, and the figures are current through June 30, 2026.
A disclosure at the end says ParaFi signals are for informational purposes only and should not be viewed as financial, legal, tax, or investment advice. The information discussed should also not be treated as a recommendation to buy or sell any specific security.