21Shares Lists STRC NA, Offering Bitcoin-Backed Yield in Europe

European investors now have a new way to access Bitcoin-backed corporate yield. 21Shares has launched an exchange-traded product (ETP) tied to preferred shares issued by Strategy, the company led by Michael Saylor and widely recognized as the largest public holder of Bitcoin.

STRC NA Goes Live on Euronext, Linking Preferred Yield to Bitcoin Treasury Exposure

The product, trading under the ticker STRC NA, will list on Euronext Amsterdam on Thursday. It will be available to both institutional and retail investors through standard brokerage accounts.

The 21Shares Strategy Yield ETP provides exposure to Strategy’s Variable Rate Series A Perpetual “Stretch” Preferred Stock (STRC). The preferred shares currently offer a variable dividend set at an 11.25% annualized rate, supported by Strategy’s substantial Bitcoin treasury. The company holds 717,722 BTC, valued at approximately $47 billion.

Rather than purchasing the preferred shares directly, investors gain exposure through a regulated exchange-traded structure tailored for European markets. 21Shares positions the product as a bridge between traditional income-focused investments and Bitcoin-linked corporate balance sheet exposure.

Key structural elements include:

• Exposure to Strategy’s preferred stock (STRC), not direct Bitcoin ownership.
• A variable dividend rate currently set at 11.25% annualized.
• Backing from Strategy’s Bitcoin treasury of over 717,000 BTC.
• Access via standard brokerage platforms across Europe.

21Shares Enters Equity-Linked Market With Bitcoin-Backed Strategy Yield Product

According to 21Shares President Duncan Moir, the ETP enables investors to pursue yield within a familiar exchange-traded format while maintaining indirect exposure to a Bitcoin-backed corporate treasury.

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

Duncan Moir

The launch marks 21Shares’ first equity-linked ETP, expanding the firm’s offerings beyond its traditional crypto-backed products. Since its founding in 2018, 21Shares has grown into one of the largest crypto ETP issuers globally, managing approximately $5.3 billion in assets across 60 products listed on 13 exchanges.

The firm’s expansion has also extended beyond Europe. Earlier this week, 21Shares launched the 21Shares Spot SUI ETF (TSUI), which began trading on Nasdaq in the United States.

As demand for regulated crypto-linked investment vehicles increases, asset managers are introducing hybrid structures that combine digital asset exposure with conventional financial instruments. With STRC NA, 21Shares adds a corporate yield vehicle tied to one of the largest Bitcoin treasuries in public markets.