21Shares Launches Zero-Fee Yield ETP Offering 11.25% Monthly BTC-Backed Income
21Shares AG will list a zero-fee Strategy Yield ETP (STRC NA) on Euronext Amsterdam on February 26, 2026, tracking Strategy Inc.’s Variable Rate Series A Perpetual Stretch Preferred Stock. STRC offers an 11.25% monthly cash yield backed by Strategy Inc.’s 700,000 bitcoin reserve and 50+ years of distribution coverage.
1. Product Launch Details
21Shares AG plans to list the 21shares Strategy Yield ETP (STRC NA) on Euronext Amsterdam on February 26, 2026. The product carries a 0.00% management fee and offers investors exchange-traded access to a preferred security structure rather than direct token holdings.
2. Underlying Asset Structure
STRC tracks the Variable Rate Series A Perpetual Stretch Preferred Stock issued by Strategy Inc., which holds over 700,000 bitcoin (≈3% of total supply). The preferred shares rank senior to common equity and are structured to trade near USD 100 par value.
3. Yield Features
Investors in STRC receive an 11.25% annualized yield, paid monthly in cash and tax-deferred. Distributions have been covered consistently since issuance, supported by a bitcoin and USD reserve designed to sustain payments for 50+ years and including a floor linked to short-term interest rates.
4. Comparison to Other Products
Compared to 21Shares’ crypto-focused ETPs, STRC offers equity-linked exposure with potentially lower volatility and credit risk than direct cryptocurrency products. Its familiar ETP format removes the complexities of trading individual preferred securities for both retail and institutional investors.