European investors now have a new way to access bitcoin-backed corporate returns. 21Shares has launched an exchange-traded product (ETP) linked to preferred shares issued by Strategy, the Michael Saylor-led company recognized as the largest public holder of bitcoin.
In brief
- STRC NA provides exposure to Strategy preferred stock, not direct ownership of bitcoin.
- The preferred stock pays a variable dividend currently set at 11.25% annualized.
- Strategy backs the product with 717,722 BTC, worth approximately $47 billion.
- The product is accessible to individual and institutional investors via European brokers.
STRC NA Launches on Euronext, Linking Preferred Yield to Bitcoin Cash Exposure
The product, traded under the symbol STRC NA, will be listed on Euronext Amsterdam on Thursday. It will be accessible to institutional investors and individuals via traditional brokerage accounts.
The 21Shares Strategy Yield ETP provides exposure to Series A Preferred Stock Strategy (STRC) Variable Rate Perpetual (“Stretch”). These stocks currently pay a variable dividend set at an annualized rate of 11.25%, supported by Strategy's significant bitcoin cash position. The company holds 717,722 BTC, valued at approximately $47 billion.
Rather than purchasing these preferred shares directly, investors access them through a regulated, exchange-traded structure, tailored to European markets. 21Shares presents this product as a bridge between traditional yield-oriented investments and indirect exposure to the balance sheet of a company with significant exposure to bitcoin.
Key structural elements include:
- Exposure to Strategy Preferred Stock (STRC), without direct ownership of bitcoin.
- A variable dividend currently set at 11.25% annualized.
- Backed by Strategy's bitcoin treasury, greater than 717,000 BTC.
- Access via standard brokerage platforms across Europe.
21Shares Enters Equity-Linked Market With Bitcoin-Backed Yield Product
According to Duncan Moir, president of 21Shares, this ETP allows investors to seek yield in a familiar format, while maintaining indirect exposure to a bitcoin-backed corporate treasury.
Since our inception, we have focused on simplifying access to digital assets. With this product, we extend this expertise to equity exposure integrated into the bitcoin ecosystem.
Duncan Moir
The launch marks the first equity-linked ETP for 21Shares, expanding the company's offering beyond its traditional cryptocurrency-backed products. Since its inception in 2018, 21Shares has become one of the world's largest issuers of crypto ETPs, with approximately $5.3 billion in assets under management across 60 products listed on 13 exchanges.
The company's expansion also extends beyond the European market. Earlier this week, 21Shares launched the 21Shares Spot SUI ETF (TSUI)now traded on Nasdaq in the United States.
As demand for regulated investment vehicles linked to cryptocurrencies increases, asset managers are developing hybrid structures combining exposure to digital assets and traditional financial instruments. With STRC NA, 21Shares introduces a corporate performance vehicle backed by one of the largest bitcoin treasuries in the public markets.
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