Strategy yield wrapper lands in Europe as 21Shares lists STRC ETP

Crypto exchange-traded product (ETP) provider 21Shares has launched an investment product giving European investors access to a preferred stock issued by Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin.

The asset manager will list its 21Shares Strategy Yield ETP under the ticker “STRC NA” on Euronext Amsterdam on Thursday, the company said Wednesday.

The ETP is available to institutional and retail investors, offering a dividend backed by Strategy’s Bitcoin (BTC) treasury, which currently holds 717,722 BTC, valued at around $47 billion. With dividends set at a variable 11.25% annualized rate, the ETP represents one of the earliest structured, BTC-backed corporate securities available to European investors.

How the STRC ETP Works

The 21Shares Strategy Yield ETP with exposure to Strategy’s preferred stock STRC, officially known as Variable Rate Series A Perpetual “Stretch” Preferred Stock, is designed to act as a “cash-flow bridge” between traditional finance and Strategy’s Bitcoin treasury.

21Shares said the ETP structure is intended to make the instrument easier to access for European investors through standard brokerage accounts, rather than requiring investors to buy the preferred shares directly.

“By combining high income potential with a familiar exchange traded structure, STRC offers both institutional and retail investors an efficient and accessible way to add yield to their portfolios,” 21shares president Duncan Moir said.

21Shares enters equity-linked ETPs

The company positioned the launch as its first equity-linked product, expanding beyond its traditional lineup of crypto-only ETPs, Moir noted.

He added that the move reflects the company’s broader mission to provide accessible exposure to digital assets.

“Since our inception, we have focused on providing straightforward access to digital assets,” Moir said. “With this product, we are extending that expertise into equity-linked exposure tied to the Bitcoin ecosystem,” he added.

Related: Bitcoin ETFs post $258M inflows as institutional Q4 selling hits 25,000 BTC

Operating since 2018, 21Shares is one of the largest crypto ETP providers globally, managing about $5.3 billion across 60 ETPs on 13 exchanges as of Monday.

The company has continued its global expansion, launching a new exchange-traded fund in the US on Tuesday: the 21Shares Spot SUI ETF (TSUI), which has started trading on the Nasdaq.

This follows a series of ETP launches by 21Shares, as asset managers continue to broaden the menu of regulated products tied to crypto markets for both institutional and retail investors.

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