Firms and protocols are accumulating Strategy’s preferred stock to capture yield and bitcoin-linked exposure. 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. A new class of crypto treasury companies is emerging around Strategy’s high-yield…
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