Underlying asset structure, yield mechanics, and the 21Shares statement

Strategy Yield ETP begins trading on the exchange list

According to a 21Shares announcement, the Strategy Yield ETP (ticker: 21ST) is now trading on the following five European exchanges:

· Xetra (Germany, Europe’s largest ETF trading venue)

· Euronext Paris

· Euronext Amsterdam

· London Stock Exchange

· SIX Swiss Exchange

21Shares previously launched a related Strategy Yield ETP product (ticker: STRC) on Euronext Amsterdam in February 2026; the multi-exchange listing of 21ST further expands the accessibility of Strategy Bitcoin-related ETPs in the European market.

Underlying asset structure, yield mechanics, and the 21Shares statement

According to the 21Shares announcement, Strategy Yield ETP provides investors with yield linked to a reserve policy centered on Bitcoin at Strategy Inc. by holding preferred securities issued by Strategy Inc. Key points of the yield mechanism disclosed in the announcement include: yield comes from variable dividends on Strategy Inc.’s preferred securities since issuance; dividend coverage for the Bitcoin and USD reserves exceeds 50 years; the dividend rate is reviewed once a month and includes a minimum dividend rate tied to short-term interest rates to ensure the yield aligns with market conditions.

21Shares CEO Duncan Moir said in a statement: “Since our founding, we have been focused on providing a convenient digital-asset investment pathway. With this product, we extend that expertise into equity-linked investment areas tied to the Bitcoin ecosystem.” Moir also said the product “combines high yield potential with a familiar exchange-traded structure,” targeting both institutional and retail investors.