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21Shares lists STRC ETN on London Stock Exchange linked to Strategy preferred shares

Asset manager 21Shares has listed the Strategy-linked STRC ETN on the London Stock Exchange, giving UK investors access via a locally listed product. The 21Shares Strategy Yield ETN tracks Strategy’s floating-rate Series A perpetual preferred shares, “Stretch”, linked to its bitcoin-focused treasury policy. Executives highlighted an 11.50 percent yield paid monthly in cash. Strategy’s financing structure may involve bitcoin sales to fund dividends.