Crypto asset manager 21Shares has launched the Strategy Yield ETN (STRC) on the London Stock Exchange, giving UK investors access to Strategy's Bitcoin-backed preferred shares.
The ETN tracks Stretch, a variable rate Series A perpetual preferred stock issued by Strategy Inc., the world's largest corporate Bitcoin holder. It offers an 11.50% annual yield paid monthly in cash with tax-deferred status and no management fee.
Strategy, based in Tysons, Virginia, holds approximately 818,334 BTC valued at nearly $67 billion. Demand for its STRC shares has surged in 2026, raising $5.58 billion so far for Bitcoin purchases.
21Shares President Duncan Moir called the listing a "definitive moment for the UK market," while Strategy CEO Phong Le described STRC as an innovation combining Bitcoin-backed security with traditional credit stability.
STRC trades on the LSE as a fee-free ETN, broadening access for UK investors to this capital model that didn't exist five years ago.