21shares Debuts 11.50% Yield Strategy Yield ETN on London Exchange
21shares launched Strategy Yield ETN on the London Stock Exchange, offering UK investors access to Strategy Inc.’s perpetual preferred security backed by 815,061 bitcoin reserves and an 11.50% cash yield. This first UK equity-linked ETN leverages 21shares’ 42% market share of £7.3 million daily crypto ETP volumes to boost UK revenues.
1. ETN Launch on LSE
21shares launched the Strategy Yield ETN (STRC) on the London Stock Exchange on May 6, 2026, marking its first UK equity-linked product. The zero-fee ETN provides a familiar exchange-traded structure accessible through existing brokerages.
2. Product Structure and Yield
The ETN tracks Strategy Inc.’s Variable Rate Series A Perpetual Stretch Preferred Stock, offering an 11.50% monthly cash distribution. Distribution reviews are conducted monthly with a floor tied to short-term interest rates to support price stability.
3. Market Position and Bitcoin Reserves
This listing leverages 21shares’ 42% market share of £7.3 million daily crypto ETP trading on the LSE and follows its recent Amsterdam debut. Strategy Inc. holds 815,061 bitcoins, providing over 50 years of distribution coverage backed by bitcoin and USD reserves.