Cryptocurrency asset management company 21Shares launched a strategy yield ETN (STRC), which listed on the London Stock Exchange on Wednesday, marking its first product launch in the UK. The strategy is backed by Bitcoin preferred shares.
STRC offers a way to purchase Stretch, a floating-rate Series A perpetual preferred stock issued by top-tier companies. Bitcoin Financial Company Strategy Inc.'s preferred stock provides investors with yield opportunities backed by the software company’s substantial Bitcoin holdings.
According to the announcement, this ETN currently offers an annual yield of 11.50%, paid monthly in cash, with tax-deferred benefits. To maintain price stability, the distribution rate is reviewed monthly and includes a floor tied to short-term interest rates.
21Shares does not charge management fees on ETNs, creating a fee-free structure for UK investors seeking bitcoin-backed securities based on the Strategy.
“The listing of the 21shares Strategy Yield ETN on the London Stock Exchange marks a milestone moment for the UK market,” said Duncan Moir, President of 21 Shares, in a statement. “We have launched an accessible investment product that combines high yield potential with a familiar exchange-traded structure. By bringing this strategy to the London Stock Exchange, we are providing UK investors with an innovative yield instrument previously unavailable in ETN products.”
Strategy, a business intelligence software company headquartered in Tysons Corner, Virginia, has now transformed into a Bitcoin accumulation platform and has become… the world’s largest corporate Bitcoin holder, currently holding 818,334 Bitcoin worth nearly $67 billion.
The company initially raised funds to purchase Bitcoin by issuing common stock MSTR, but recent market interest in its STRC stock has enabled Strategy to raise $5.58 billion for Bitcoin purchases since 2026. The 21Shares product allows UK traders to access the same returns from Strategy’s preferred shares.
Phong Le, President and CEO of Strategy, said in a statement: "STRC is an innovation in capital markets, offering both the upside potential of bitcoin-backed securities and the stability of traditional credit products. Through 21Shares' exchange-traded products, we are expanding access to a new capital model for UK investors—one that did not exist five years ago and that we believe will help shape the next 50 years."
On Tuesday, Strategy magazine revealed that the company incurred a loss of $14.5 billion in the first quarter due to the declining value of its Bitcoin holdings, following a $14.4 billion loss in the fourth quarter of 2025. However, the company continues to accumulate Bitcoin, and its stock price has surged in recent weeks as Bitcoin’s price rebounds.
MSTR's latest trading price is $183.45. Yahoo Finance Over the past month, the price of this asset has risen by nearly 44%. Bitcoin itself has also increased by approximately 18% over the same period, recently reaching $81,750 after dipping to around $60,000 earlier this year. Bitcoin is currently still about 35% below its high of over $126,000 set in October last year.