21shares has launched the 21shares Strategy Yield ETN (STRC) on the London Stock Exchange (LSE) in the latest step in the company’s UK expansion.
The launch has followed further guidance from the Financial Conduct Authority (FCA) around utilising digital assets.
“We’re very committed to the UK market and definitely looking to expand as regulation comes in,” said Stephen Coltman, head of macro at 21shares. “Particularly in terms of clarity around whether investors can hold these products in a tax-efficient way. As we get more guidance from the regulator we can move forward and bring a broader range of tokens into the market.”
The ETN is the firm’s first UK product to provide exchange-traded access to Stretch, a perpetual preferred security issued by Strategy Inc., a software company and the world’s largest corporate holder of bitcoin.
“It’s intended to be a lower volatility product, offering investors more focus on income and yield,” Coltman said. “The ETN structure makes it much more accessible to the average investor, who maybe isn’t familiar with trading preferred shares, and it’s more tax efficient.”
Duncan Moir, president of 21shares, added: “The listing of the 21shares Strategy Yield ETN on the London Stock Exchange is a definitive moment for the UK market. We are introducing an easy to access investment product that combines high income potential with a familiar exchange traded structure.
“By bringing this strategy to the LSE, we are giving UK investors an innovative tool to generate income that simply was not accessible in an ETN wrapper before.”
The ETN, which was previously launched on a number of European exchanges before it’s LSE launch, sits alongside the 21shares Bitcoin Gold ETP (BOLD), which launched on the LSE in January, and the firm’s Bitcoin Core ETP (CBTC) and Ethereum Core ETP (ETHC).
21shares currently leads the UK crypto ETN market with a 42% market share of £7.3m daily trading volumes across all crypto ETNs on the LSE, as of 30 April 2026.
