21Shares, a leading crypto exchange-traded product (ETP) issuer, has launched the 21Shares Strategy Yield ETP (ticker: STRC NA) on Euronext Amsterdam. The product began trading on February 26, 2026, marking a significant expansion for the firm as its first equity-linked ETP, moving beyond its traditional lineup of crypto-only products.
The ETP provides European investors with regulated, exchange-traded access to a unique financial instrument: the Variable Rate Series A Perpetual Stretch Preferred Stock issued by Strategy Inc. This company, led by Michael Saylor, is the world's largest corporate holder of Bitcoin, with a treasury of over 717,000 BTC, valued at approximately $47 billion.
The core feature of the STRC ETP is its variable annualized yield, set at roughly 11.25%. Distributions are paid monthly in cash and are backed by Strategy Inc.'s massive Bitcoin holdings. The company has reportedly established reserves intended to sustain these distributions for more than 50 years, emphasizing long-term yield potential. The product launched with a 0.00% management fee.
Designed for accessibility, the underlying preferred stock trades close to a $100 par value. By wrapping it into an ETP format, 21Shares removes the operational complexity for investors, allowing both institutional and retail participants to gain exposure through standard brokerage accounts. This structure offers yield-enhanced exposure tied to Bitcoin's value while aiming to reduce the volatility associated with holding BTC directly.
The launch underscores a broader trend in crypto finance, where asset managers are developing structured, yield-generating products that bridge traditional fixed-income characteristics with digital asset exposure. 21Shares, which manages $5.3 billion across 60 ETPs globally, positions STRC as a hybrid instrument appealing to investors seeking income without direct cryptocurrency ownership.
