Cryptocurrency product (ETP) provider 21Shares has launched an investment product giving European investors access to preferred shares issued by Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin.
On Thursday, the asset manager will list its 21Shares Strategy Yield ETP under the ticker “STRC NA” on the Euronext Amsterdam stock exchange. he said Wednesday.
The ETP is available to institutional and retail investors, offering a dividend backed by the Bitcoin (BTC) Strategy vault, which currently holds 717,722 BTC worth approximately $47 billion. With dividends set at a variable annual rate of 11.25%, the ETP represents one of the earliest structured BTC-backed corporate securities available to European investors.
How STRC ETP works
21Shares Strategy Yield ETP with Exposure to Strategy STRC Preferred Stock, officially known as Series A Perpetual “Stretch” Variable Rate Preferred Stock, is intended to act as a “cash flow bridge” between classic finance and Strategy’s Bitcoin vault.
21Shares said the ETP is structured to make the facility easier for European investors to access through standard brokerage accounts, rather than requiring investors to purchase preferred shares directly.
“By combining high income potential with a familiar exchange trading structure, STRC offers institutional and retail investors an effective and accessible way to increase the profitability of their portfolios,” said Duncan Moir, CEO of 21shares.
21Shares enters equity-linked ETPs
Moir noted that the company positioned this launch as its first equity-linked product, moving beyond its classic offering of cryptocurrency-only ETPs.
He added that the move reflects the company’s broader mission to provide accessible exposure to digital assets.
“From our inception, our focus has been on providing easy access to digital resources,” said Moir. “With this product, we are expanding that knowledge to include equity-linked exposure related to the Bitcoin ecosystem,” he added.
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21Shares, operating since 2018, is one of the largest ETP cryptocurrency providers in the world, managing as of Monday, about $5.3 billion across 60 ETPs on 13 exchanges.
The company continued its global expansion, launching on Tuesday, a novel fund listed on the US stock exchange: 21Shares Spot SUI ETF (TSUI), which started trading on the Nasdaq stock exchange.
This follows a series of ETP launches by 21Shares as asset managers continue to expand their range of regulated products related to cryptocurrency markets for both institutional and retail investors.
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