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Stockholders' Equity
 9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
Common Stock:
Authorized Capital
The Company has 22.2 billion and 1.05 billion authorized shares of Class A and Class B common stock, respectively, all of which have a designated par value of $0.001 per share. Each holder of Class A common stock is entitled to one vote per Class A common share held, while each holder of Class B common stock is entitled to ten votes per Class B common share held.
PIPE Financing
On May 26, 2025, Asset Entities Inc. and Strive Enterprises, Inc., entered into subscription agreements with certain accredited investors (the "PIPE Subscribers" and the transactions collectively, the "PIPE Transactions"), pursuant to which the PIPE Subscribers agreed to purchase, and the Company agreed to sell, shares of the Company's Class A common stock (the "Class A common shares"), with certain PIPE Subscribers agreeing to purchase pre-funded warrants (the "PIPE Pre-Funded Warrants") to purchase shares of Class A common stock at a price of $1.3499 ($26.9980 on a split-adjusted basis) in lieu of Class A common shares. Each PIPE Pre-Funded Warrant gives the holder the right to purchase a share of Class A common stock (1/20th of a share of Class A common stock on a split-adjusted basis) at an exercise price of $0.0001 per share ($0.0020 on a split-adjusted basis). For each share of Class A common stock and PIPE Pre-Funded Warrant purchased, the holder received a traditional warrant (the "PIPE Traditional Warrants"), which gives the holder the right to purchase a share of Class A common stock (1/20th of a share of Class A common stock on a split-adjusted basis) at an exercise price of $1.35 per share ($27.00 on a split-adjusted basis).
The table below summarizes activity related to the Company's PIPE Traditional Warrants and PIPE Pre-Funded Warrants for the three and nine months ended September 30, 2026:
Three Months Ended
September 30, 2026		Nine Months Ended
September 30, 2026
PIPE Traditional WarrantsPIPE Pre-Funded WarrantsPIPE Traditional WarrantsPIPE Pre-Funded Warrants
PIPE warrants outstanding, beginning of period531,888,702 — 531,888,702 1,072,289 
Issued— — — — 
Exercised(28,926,075)— (28,926,075)(1,072,289)
Expired— — — — 
PIPE warrants outstanding, end of period502,962,627 — 502,962,627 — 
(1) Each warrant gives the holder the right to purchase 1/20th of a share of Class A common stock.
During the period from October 1, 2026 through October 30, 2026, 471,369,982 traditional warrants to purchase 23,568,510 shares of Class A common stock were exercised, with any unexercised warrants expiring. As of October 30, 2026, there were no traditional warrants issued in connection with the Company's PIPE transaction remaining outstanding.
At-the-Market Common Equity Program
On September 15, 2025, the Company entered into a Controlled Equity OfferingSM Sales Agreement (the “ASST Sales Agreement”) with Cantor Fitzgerald & Co. (“Cantor”), pursuant to which the Company, from time to time, at its option, may offer and sell shares of its Class A common stock to or through the Agent, acting as the principal and/or the sole agent, having an aggregate sales price of up to $450.0 million.
On June 5, 2026, the Company, Cantor and Barclays Capital Inc., Clear Street LLC, The Benchmark Company, LLC, StoneX Financial Inc., B. Riley Securities, Inc., Maxim Group LLC and H.C. Wainwright & Co., LLC (together, with Cantor, the “ASST Agents”) amended and restated the ASST Sales Agreement (as amended and restated, the “A&R ASST Sales Agreement”), pursuant to which, from time to time, the Company may offer and sell through the ASST Agents, as sales agents, up to $2.55 billion of Common Stock, pursuant to one or more “at the market” offerings.
During the three months ended September 30, 2026, the Company issued 14.4 million shares of Class A common stock for aggregate gross proceeds of $271.6 million.
During the nine months ended September 30, 2026, the Company issued 35.3 million shares of Class A common stock for aggregate gross proceeds of $577.9 million.
During the period from September 12, 2025 to September 30, 2025, the Company issued 0.5 million shares of Class A common stock for aggregate gross proceeds of $59.2 million.
As of September 30, 2026, the Company has the availability to raise approximately $1.9 billion through the issuance and sale of its Class A common stock pursuant to the A&R ASST Sales Agreement.
351 Exchange
On August 22, 2025, Asset Entities Inc. and Strive Enterprises, Inc., entered into exchange agreements with certain accredited investors (the "351 Investors" and the transactions collectively, the "351 Exchange"), pursuant to which the Company agreed to issue and exchange 2.7 million shares of the Company's Class A common stock in exchange for an aggregate amount of 69 bitcoin. The exchange ratio was determined based on the price of bitcoin on August 22, 2025 and an assumed price of $3.00 per share of Class A common stock. The 351 Exchange was completed on September 12, 2025, at which time the Company issued 2.7 million shares of Class A common stock in exchange for 69 bitcoin. For the period from September 12, 2025 to September 30, 2025, the Company recorded a realized loss of $14.7 million based on the difference between the fair value of the Company's Class A common stock at the exchange date and the agreed-upon exchange price, which is recorded in other derivative loss on the Company's consolidated statements of operations.
Share Repurchase Program
On September 15, 2025, the Company's Board of Directors authorized the purchase of up to $500.0 million of its Class A common stock through a share repurchase program. Repurchases may be made from time-to-time, subject to general business and market conditions, other investment opportunities, and applicable legal requirements. Repurchases may be made through open market purchases or privately negotiated transactions, including through Rule 10b5-1 plans.
During the three months ended September 30, 2026, the nine months ended September 30, 2026, and the period from September 12, 2025 to September 30, 2025, the Company did not repurchase any Class A common stock. As of September 30, 2026, $500.0 million of Class A common stock remains available for repurchase through the share repurchase program. During the period from October 1, 2026 through October 30, 2026, the Company has not repurchased any Class A common stock. As of October 30, 2026, $500.0 million of Class A common stock remains available for repurchase through the share repurchase program.