21Shares lists Strategy Yield STRC ETN on London Stock Exchange, offering UK investors first exchange-traded access to Strategy’s perpetual preferred stock

21Shares has listed its Strategy Yield ETN (ticker: STRC) on the London Stock Exchange, giving UK investors their first exchange‑traded access to Strategy Inc.’s perpetual preferred stock (“Stretch”) via an ETN structure. The product is listed in GBP and USD, carries a stated 0.00% management fee, and is issued by 21Shares AG with ISIN CH1528107811. This LSE listing follows earlier launches on Euronext Amsterdam and other European venues and is part of 21Shares’ effort to broaden its UK footprint beyond pure crypto ETNs into equity‑linked, bitcoin‑treasury‑exposed products. The underlying asset, Stretch – the Variable Rate Series A Perpetual Stretch Preferred Stock issued by Strategy Inc. – is designed as a high‑income, perpetual preferred security linked to Strategy’s bitcoin‑centric reserve policy. Strategy maintains both bitcoin and USD reserves and targets long‑term distribution coverage of more than 50 years, with a variable distribution rate reviewed monthly and floored against short‑term interest rates to help keep yield aligned with market conditions and support trading near its USD 100 par value. According to 21Shares and Strategy, this structure is meant to combine characteristics of a bitcoin‑backed security with the more stable profile of a traditional credit‑style instrument, offering monthly cash distributions at a relatively high yield. For the UK market specifically, STRC is positioned as an institutional‑grade way to access Strategy’s preferred stock through a familiar listed ETN wrapper that can be traded via standard brokerage accounts on the LSE. 21Shares highlights the launch as a milestone in the maturation of bitcoin‑linked capital‑markets products, moving beyond spot crypto exposure toward corporate securities whose economics are explicitly tied to large bitcoin treasuries; Strategy is described as the world’s largest corporate holder of bitcoin, with over 800,000 BTC and close to 4% of the eventual total supply as of spring 2026. "entities":["21Shares","21Shares AG","21Shares Strategy Yield ETN","STRC","Stretch","Variable Rate Series A Perpetual Stretch Preferred Stock","Strategy Inc.","London Stock Exchange","LSE","Euronext Amsterdam","Euronext Paris","SIX Swiss Exchange","Bitcoin"]}'}}Note: The above is the raw JSON response as requested, not markdown. If you intended standard text/markdown, here is the clean version without JSON syntax: (remove everything before this note). If you intended proper JSON, remove this note and everything after the closing brace.

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More coverage

• 21shares Launches Strategy Yield ETN (STRC) on the London (globenewswire.com)
• 21shares launches Strategy Yield ETN: STRC - ETF Express (etfexpress.com)
• [PDF] STRC - 21Shares (cdn.21shares.com)
• [PDF] Investment case for STRC 21shares Strategy Yield ETP (cdn.21shares.com)
• 21shares (x.com)

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