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A new class of crypto treasury companies is forming around Strategy’s high-yield stock
Firms and protocols are accumulating Strategy’s preferred stock to capture yield and bitcoin-linked exposure.
Apr 15, 2026, 9:48 a.m.
What to know:
- New entrants such as Saturn Credit and Apyx are rapidly building large STRC positions.
- Nearly $200 million of STRC has been tokenized on Ethereum, with around $100 million actively trading on Pendle, enabling onchain access to its yield.
- STRC recorded a record-breaking $1.6 billion trading day on Tuesday.
Such is the stock’s popularity that it registered a record-breaking trading volume on Tuesday, with more than $1.6 billion in shares changing hands.
STRC, the new base layer
As trading volumes surge, a growing number of companies and decentralized finance protocols are accumulating STRC to capture its yield while gaining indirect exposure to bitcoin.
STRC is now being used as a base layer for new financial products that add leverage, tokenization and structured yield.
Saturn Credit, a bitcoin-backed yield platform, accumulated $15 million in STRC within six days of launch. Apyx, an onchain credit protocol, has built a position of 800,000 shares after purchasing an additional 200,000 STRC, with plans to become one of the largest holders.
