21shares Announces Launch of Strategy Yield ETP (STRC), Offering Investors Access to the Intersection of Crypto and Traditional Finance
First equity-linked ETP from 21shares provides exposure to a bitcoin-backed digital yield instrument with a high yield income
Zurich, February 25, 2026 – 21Shares AG, one of the world’s leading issuers of cryptocurrency exchange-traded products (ETPs), today announced the launch of the 21shares Strategy Yield ETP (Ticker: STRC NA) on Euronext Amsterdam. The product will be available for trading on 26 February 2026.
| Name | Ticker | ISIN | Exchange | Currency | Fee | Listing Date | Issuer |
| 21shares Strategy Yield ETP | STRC NA | CH1528107811 | Euronext Amsterdam | USD | 0.00% | 26 February 2026 | 21Shares AG |
STRC marks an important milestone for 21shares as the firm’s first ETP providing exposure to an equity-related instrument. By offering exchange-traded access to a preferred security issued by Strategy Inc., a software company and the world’s leading corporate holder of bitcoin, 21shares is expanding beyond direct token exposure while remaining firmly anchored in the digital asset ecosystem.
The underlying asset, STRC – the Variable Rate Series A Perpetual Stretch Preferred Stock issued by Strategy Inc. – offers investors yield-enhanced exposure linked to Strategy’s bitcoin-centric reserve policy.
STRC provides a high income stream, generated through variable distributions that have been paid consistently since issuance. Strategy has established a bitcoin and USD reserve with distribution coverage of 50+ years. The distribution rate is reviewed monthly and includes a floor linked to short-term interest rates, helping keep yield aligned with market conditions.
Strategy Inc. holds over 700,000 bitcoin as of early 2026, representing approximately 3% of total bitcoin supply. As the largest corporate bitcoin holder globally, Strategy provides a uniquely positioned balance sheet within the digital asset ecosystem. Through the 21shares Strategy Yield, investors gain structured exposure to this bitcoin-backed digital yield via a preferred security that ranks senior to common equity in the capital structure.
STRC has been structured by Strategy to trade close to its USD 100 par value, with regular distribution adjustments intended to support price stability. While not immune to credit, liquidity, or broader market risks, preferred securities have historically exhibited lower volatility than common equity or cryptocurrencies.
“The 21shares Strategy Yield ETP reflects 21shares’ commitment to innovation and ambition to lead as our first ETP linked to an equity-related instrument,” said Duncan Moir, President at 21shares. “Since our inception, we have focused on providing straightforward access to digital assets. With this product, we are extending that expertise into equity-linked exposure tied to the bitcoin ecosystem. By combining high income potential with a familiar exchange traded structure, STRC offers both institutional and retail investors an efficient and accessible way to add yield to their portfolios.”
“STRC is an innovation in the capital markets that provides the upside of a bitcoin-backed security, with the stability of a traditional credit product,” said Phong Le, President and CEO of Strategy. “It currently offers 11.25% yield1, paid monthly in cash, tax deferred. Through 21shares’ exchange-traded product, we’re expanding access for European investors to a new capital model – one that didn’t exist five years ago and one we believe will help shape the next fifty.”
The 21shares Strategy Yield ETP provides exchange-traded access to STRC through a listed product structure, removing the operational complexity of trading individual preferred shares directly. Investors can gain exposure through a familiar ETP format within their existing brokerage accounts.
Notes to editors
About 21shares
21shares is one of the world’s leading cryptocurrency exchange traded product (ETP) providers and offers one of the largest suites of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto ETPs that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialized research team, proprietary technology, and deep capital markets expertise, 21shares delivers innovative and cost-efficient investment solutions.
21shares is a subsidiary of FalconX, one of the world 's largest digital asset prime brokers. 21shares maintains independent operations from FalconX while strategically leveraging the resources and reach of FalconX to accelerate its mission and unlock new growth. For more information, please visit www.21shares.com.
Contact: audrey.belloff@21shares.com
DISCLAIMER
This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG in any jurisdiction. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever or for any other purpose in any jurisdiction. Nothing in this document should be considered investment advice.
This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful.
This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States. Neither the US Securities and Exchange Commission nor any securities regulatory authority of any state or other jurisdiction of the United States has approved or disapproved of an investment in the securities or passed on the accuracy or adequacy of the contents of this presentation. Any representation to the contrary is a criminal offence in the United States.
Within the United Kingdom, investments in crypto exchange-traded notes (cETNs) are classified by the Financial Conduct Authority (FCA) as Restricted Mass Market Investments (RMMIs) and are considered high-risk and complex products. You should not invest unless you’re prepared to lose all the money invested. cETNs are highly volatile, and you are unlikely to be protected if something goes wrong. These products are not covered by the UK Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS). This is not a recommendation to invest. Any investment decision should be based solely on the official offering documents of the Issuers (such as the approved base prospectus and final terms), published in accordance with applicable law.
Exclusively for potential investors in any EEA Member State that has implemented the Prospectus Regulation (EU) 2017/1129 the Issuer’s Base Prospectus (EU) is made available on the Issuer’s website underwww.21Shares.com.
The approval of the Issuer’s Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the Issuer’s Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand.
This document constitutes advertisement within the meaning of the Prospectus Regulation (EU) 2017/1129 and the Swiss Financial Services Act (the “FinSA”) and not a prospectus. The 2026 Base Prospectus of 21Shares AG has been deposited pursuant to article 54(2) FinSA with BX Swiss AG in its function as Swiss prospectus review body within the meaning of article 52 FinSA. The 2026 Base Prospectus and the key information document for any products may be obtained at 21Shares AG 's website (https://21shares.com/ir/prospectus orhttps://21shares.com/ir/kids).
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1) Data as of 24/02/2026 (source: https://www.strategy.com/strc)
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