TL;DR
- Equity milestone: 21Shares debuts STRC, its first equity-linked ETP, expanding beyond crypto-only products.
- Bitcoin-backed yield: Strategy Inc.’s 717,000 BTC reserve supports STRC’s 11.25% variable annualized yield with long-term coverage.
- Accessible structure: STRC trades near $100 par value, offering European investors regulated, exchange-traded access to Bitcoin-backed preferred stock.
21Shares has introduced the Strategy Yield ETP (ticker: STRC NA) on Euronext Amsterdam, marking a significant step in bridging digital assets with traditional finance. The product, available from February 26, 2026, provides European investors with regulated access to Strategy Inc.’s preferred stock, a security backed by the company’s extensive Bitcoin holdings. With a variable annualized yield of 11.25%, STRC represents one of the earliest structured, Bitcoin-backed corporate securities accessible through a familiar exchange-traded format.
A New Equity-Linked Milestone
The launch of STRC is notable as 21Shares’ first equity-linked ETP, expanding beyond its established lineup of crypto-only products. By offering exposure to Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, the firm is diversifying its portfolio while remaining anchored in the digital asset ecosystem. This preferred security provides yield-enhanced exposure tied to Strategy’s Bitcoin-centric reserve policy, positioning STRC as a hybrid instrument that blends corporate equity with crypto-backed reserves.
Strategy Inc., led by Michael Saylor, is the largest corporate holder of Bitcoin, with over 717,000 BTC valued at approximately $47 billion. This reserve underpins STRC’s distributions, which are reviewed monthly and include a floor linked to short-term interest rates. The structure ensures yield alignment with market conditions while offering investors a high income stream. With distribution coverage projected for more than 50 years, the product emphasizes both sustainability and long-term yield potential.
Accessibility Through Familiar Structures
21Shares designed STRC to trade close to its $100 par value, with regular distribution adjustments supporting price stability. The ETP format removes the operational complexity of acquiring preferred shares directly, allowing institutional and retail investors to gain exposure through standard brokerage accounts. This accessibility reflects 21Shares’ mission to simplify digital asset investment, making STRC a practical addition to diversified portfolios seeking yield without direct crypto exposure.
Operating since 2018, 21Shares manages $5.3 billion across 60 ETPs on 13 exchanges worldwide. The launch of STRC in Europe follows the debut of the 21Shares Spot SUI ETF (TSUI) on Nasdaq, underscoring the firm’s global expansion strategy. By combining high income potential with a regulated exchange-traded structure, STRC exemplifies 21Shares’ ambition to lead innovation in capital markets, offering European investors a new model of Bitcoin-backed equity-linked securities.
