21shares Announces Launch of Strategy Yield ETP (STRC), Offering Investors Access to the Intersection of Crypto and Traditional Finance

Core Viewpoint - 21Shares AG has launched the 21shares Strategy Yield ETP, providing exposure to a bitcoin-backed digital yield instrument, marking its first equity-linked product [1][2]. Company Overview - 21Shares AG is a leading issuer of cryptocurrency exchange-traded products (ETPs) and aims to bridge traditional finance with decentralized finance [8][9]. - The company has a track record of creating crypto ETPs since 2018 and is backed by a specialized research team and proprietary technology [9]. Product Details - The 21shares Strategy Yield ETP (Ticker: STRC) will be listed on Euronext Amsterdam and is set to begin trading on February 26, 2026 [1][2]. - STRC offers exposure to a preferred security issued by Strategy Inc., a software company and the largest corporate holder of bitcoin, holding over 700,000 bitcoin, which is about 3% of the total bitcoin supply [2][5]. - The underlying asset, STRC, is a Variable Rate Series A Perpetual Stretch Preferred Stock that provides yield-enhanced exposure linked to Strategy's bitcoin-centric reserve policy [3][4]. Yield and Income Potential - The ETP offers a high income stream with a current yield of 11.25%, paid monthly in cash and tax-deferred [7]. - Distributions have been consistently paid since issuance, with a reserve coverage of over 50 years [4]. Market Positioning - STRC is designed to trade close to its USD 100 par value, with regular distribution adjustments to support price stability [6]. - Preferred securities like STRC have historically shown lower volatility compared to common equity or cryptocurrencies, providing a more stable investment option [6]. Strategic Goals - The launch of STRC reflects 21Shares' commitment to innovation and aims to provide both institutional and retail investors with an efficient way to add yield to their portfolios [7]. - The product is positioned to expand access for European investors to a new capital model that integrates traditional and digital asset investment [7].