UTXO Management Announces UTXO Preferred Income Strategies LP, a Dual-Class Structured Income Fund Targeting Digital Credit Preferred Securities

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Key Terms

dual-class capital structure financial

A dual-class capital structure is a share setup where a company issues two (or more) types of stock that give different voting power — for example, one class might carry many votes per share while the other carries one. For investors, this matters because it separates economic ownership from control: you can own the same financial upside but have less influence over decisions, like being a passenger in a car you helped buy. This affects governance, takeover risk, and long-term strategy.

digital credit financial

Digital credit is lending that is originated, approved, disbursed and repaid through electronic channels such as mobile apps, online platforms or digital wallets rather than through paper forms or bank branches. It matters to investors because it can scale faster, cut operating costs and open access to underserved customers, boosting growth potential while changing the company’s risk profile—think of it as replacing a physical storefront with a high-speed online checkout that also shifts who and how reliably pays back.

structured credit product financial

A structured credit product is a financial security built by pooling many loans or debt instruments and splitting the resulting cash flows into separate layers that offer different levels of risk and return. Think of it like a layered cake: some slices get paid first and are safer, while others take losses first but can offer higher returns. Investors care because these products concentrate credit risk, affect portfolio diversification, and can be sensitive to economic changes and liquidity.

perpetual securities financial

Perpetual securities are instruments that pay regular income forever because they have no fixed date when the principal must be repaid, similar to a loan with no end date. They matter to investors because they can provide steady, long-term cash flow but carry extra risks—payments may be smaller or stoppable, their value is very sensitive to interest-rate changes, and they often rank below ordinary debt if the issuer runs into trouble.

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04/27/2026 - 09:00 AM

Fund offers qualified purchasers access to preferred digital credit income through a structurally enhanced, institutionally serviced vehicle.

NASHVILLE, Tenn.--(BUSINESS WIRE)-- UTXO Management GP, LLC ("UTXO Management"), a subsidiary of Nakamoto Inc. (NASDAQ: NAKA), announced the formation of UTXO Preferred Income Strategies LP (the "Fund") yesterday at UTXO Investor Day during the Bitcoin 2026 Conference. The Fund will create a dual-class capital structure designed to provide qualified purchasers with access to income generated by preferred perpetual securities.

The Fund’s initial portfolio is expected to consist of “digital credit,” such as the Strategy Variable Rate Perpetual Stretch Preferred Security (Ticker: STRC).

“The digital credit market has matured significantly, but institutional access remains fragmented,” said Tyler Evans, Chief Investment Officer of UTXO Management. “We designed our first structured credit product, UTXO Preferred Income Strategies LP, to give allocators access to these dividend-paying securities, with the capital structure enhancements, institutional servicing, and operational transparency they require.”

Since inception in 2019, UTXO Management and its affiliates have initiated and managed multiple investment vehicles, including 210k Capital, LP, a hedge fund focused on Bitcoin, Bitcoin-related securities, and derivatives. UTXO Management’s investment team leverages deep operational and financial experience across the Bitcoin economy to identify high-conviction opportunities across public and private markets. UTXO Preferred Income Strategies LP will represent the firm’s first structured credit product, extending its platform into institutionally serviced income vehicles.

About UTXO Management

UTXO Management is a Bitcoin-native asset manager focused on public and private market investments across the Bitcoin ecosystem. The firm manages multi-strategy portfolios spanning liquid securities, venture investments, and strategic partnerships, supporting the growth of Bitcoin-native companies and infrastructure. UTXO Management is a subsidiary of Nakamoto Inc. (NASDAQ: NAKA), a publicly held Bitcoin company that owns and operates a global portfolio of Bitcoin-native enterprises. For more information visit www.utxo.management.

Important Disclosures

This press release is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or investment product. Interests in UTXO Preferred Income Strategies LP (the “Fund”) have not been and will not be registered under the Securities Act of 1933, as amended (the “Act”), or any state or foreign securities laws, and are being offered and sold in reliance on the exemption to registration promulgated under Rule 506(c) of Regulation D promulgated under the Act. Interests are available only by means of a complete offering memorandum and related subscription materials which contain significant additional information about the terms of an investment in the Fund (such documents, the “Offering Documents”) and exclusively to investors who are both (i) “accredited investors” as defined in Rule 501(a) of Regulation D and (ii) “qualified purchasers” as defined in Section 2(a)(51)(A) of the Investment Company Act of 1940. Any decision to invest must be based solely upon the information set forth in the Offering Documents, regardless of any information investors may have been otherwise furnished, including this press release.

The description herein of the Fund and the targeted characteristics of its strategies and investments is based on current expectations and should not be considered definitive or a guarantee that the approaches, strategies, and investment portfolio will, in fact, possess these characteristics. These descriptions are based on information available as of the date of this press release, and the description may change over time. UTXO Management GP, LLC (“UTXO Management”) has no obligation to update, modify or amend this press release in the event that any matter stated herein changes or subsequently becomes inaccurate.

The Fund is speculative and involves a high degree of risk, including the possible loss of an investor’s entire investment. Investments in digital credit securities are subject to unique risks, including regulatory uncertainty, potential illiquidity, valuation challenges, and the evolving legal status of digital assets. The Fund may lack diversification, thereby increasing the risk of loss. The Fund’s performance may be volatile. There can be no guarantee that the Fund’s investment objectives will be achieved. Past performance is not indicative of future results.

Performance of UTXO Management’s other investment vehicles is not indicative of and should not be relied upon as a prediction of the Fund's future performance. The Fund's investment strategy differs materially from UTXO Management’s other vehicles.

Forward-Looking Statements

Certain statements in this press release constitute forward-looking statements, as defined under U.S. federal securities laws. Forward-looking statements can be identified by the use of words such as “target,” “expect,” “seek,” “intend,” “design,” “will,” “may,” “should,” “potential,” or the negative of such terms or other variations thereof. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release include, but are not limited to, statements regarding the Fund’s investment strategy, targeted yield and return objectives, capital structure design, portfolio composition, distribution mechanics, leverage parameters, and the Investment Manager’s plans and expectations for the Fund. These forward-looking statements are inherently uncertain and involve numerous assumptions and risks.

Because Nakamoto Inc. (NASDAQ: NAKA) is the parent company of UTXO Management, investors in Nakamoto Inc. common stock should be aware that the performance and risks of the Fund and UTXO Management’s fund management activities may affect the consolidated financial results, reputation, and regulatory profile of Nakamoto Inc. and its subsidiaries.

Any forward-looking statement speaks only as of the date on which such statement is made, and neither the Investment Manager nor Nakamoto Inc. undertakes any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by applicable law. Prospective investors should refer to the Fund’s Private Placement Memorandum for a complete description of risks, fees, and terms.