21Shares Strategy Yield ETP (STRC)
Funds & ETFs
The 21Shares Strategy Yield ETP (STRC) is a first-of-its-kind equity-linked ETP listed on Euronext Amsterdam that tracks MicroStrategy's (Strategy) Variable Rate Series A Perpetual Preferred Stock. The fund provides indirect exposure to Strategy's massive Bitcoin treasury — over 500,000 BTC — through preferred equity that carries a variable dividend rate of approximately 9–11.25%. It is the first ETP on a European exchange to link performance to a Bitcoin treasury company's preferred shares rather than directly holding Bitcoin.
Details
- Aum
- ~$100K
- Type
- Bitcoin Strategy Yield ETP
- Issuer
- 21Shares
- Ticker
- STRC
- Country
- Netherlands
- Manager
- 21Shares
- Exchange
- Euronext Amsterdam
- Custodian
- N/A — holds Strategy Inc. preferred stock, no direct BTC
- Fund Type
- etp
- Underlying
- Strategy Variable Rate Series A Perpetual Preferred Stock
- Launch Date
- 2026-02-24
- Bitcoin Only
- Yes
- Expense Ratio
- ~1.49% TER
- Exchange Listed
- Euronext Amsterdam
- Description Note
- Very new product as of March 2026. Strategy Yield ETP combining Bitcoin exposure with yield mechanism.
- Physically Backed
- No
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iShares Bitcoin Trust (IBIT)
iShares Bitcoin Trust (IBIT) is BlackRock's spot Bitcoin ETF, launched on January 11, 2024, on Nasdaq. IBIT became the fastest ETF in history to reach $10 billion in AUM, achieving it in under two months. As the world's largest asset manager, BlackRock's entry validated institutional demand for Bitcoin exposure. IBIT uses Coinbase Custody as its custodian and charges a 0.25% annual sponsor fee (discounted to 0.12% for the first year on initial assets). It is now the largest spot Bitcoin ETF globally.
MicroStrategy (MSTR)
Strategy (formerly MicroStrategy, NASDAQ: MSTR) is a business intelligence software company that transformed into the world's largest corporate Bitcoin holder under CEO Michael Saylor. Beginning in August 2020, Strategy began converting its treasury reserves to Bitcoin and has continued relentless accumulation, funding purchases through equity and convertible debt offerings. As of early 2026, Strategy holds over 500,000 BTC, making it by far the single largest non-government Bitcoin holder. MSTR stock trades at a significant premium to its Bitcoin NAV.
21Shares Bitcoin ETP Dubai (ABTC)
21Shares Bitcoin ETP (ABTC) is the Middle East's first physically-backed Bitcoin ETP, cross-listed on Nasdaq Dubai in October 2022. It provides direct exposure to Bitcoin through physical holdings with the same product infrastructure as 21Shares' European ETPs. The listing made Bitcoin investment accessible through a regulated Middle Eastern exchange for the first time, supporting the UAE's ambition to become a global crypto hub.
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