Crypto Treasury Firms Pile Into STRC: $1.6B Trading Day Sparks Onchain Frenzy

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A new class of crypto treasury companies is forming around Strategy’s high-yield stockMarkets

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.

In this article

BTCBTC$74,007.98◢0.49%

I’ve been noticing a really interesting trend lately. There are new companies popping up specifically to manage crypto treasuries, and a lot of them are focused on Strategy’s STRC token. It seems like firms are getting into this because it lets them hold Bitcoin *and* earn extra income on top of that, which is a pretty attractive combination.

Strategy, a major publicly traded company that holds a lot of Bitcoin, offers a security called STRC to fund its Bitcoin purchases. Investors who buy STRC receive an 11.5% annual dividend, paid out monthly in cash, and that money is mainly used to buy more Bitcoin.

The stock was incredibly popular on Tuesday, with a record-breaking $1.6 billion worth of shares traded.

STRC, the new base layer

With trading activity increasing, more companies and DeFi platforms are buying STRC to earn rewards and also benefit from the price movements of Bitcoin.

STRC is now the foundation for new financial products offering features like increased investment potential, digital asset representation, and predictable returns.

Saturn Credit, a platform offering returns backed by bitcoin, quickly gained $15 million worth of its STRC token within just six days of launching. Apyx, a credit protocol built on blockchain technology, has been actively buying STRC and now holds 800,000 shares, including a recent purchase of 200,000 more, with the goal of becoming a major STRC holder.

BitStrategy is following a comparable plan. According to co-founder and US Head Ryan McGinnis, the company intends to build a large holding of Strategy securities, ultimately striving to be the biggest shareholder globally.

As an analyst, I’m watching the growth of tokenized real-world assets (RWAs) on-chain, and the numbers are significant. Currently, almost $200 million worth of STRC tokens – representing these RWAs – are live on Ethereum. What’s particularly interesting is that nearly half of that, around $100 million, is being actively traded on Pendle. Pendle is a DeFi platform that essentially lets you separate the potential earnings from an asset – like a bond or loan – and trade that future income separately, creating a market for it.

Ex-dividend date pushes STRC below par value

STRC stock dipped to $99.39 in early trading Wednesday, falling below its usual price of $100. This price is a benchmark the company uses, especially when issuing new stock. The drop occurred because the stock went “ex-dividend,” meaning anyone buying shares now won’t receive the next dividend payment.

With the stock price now under $100, the company is pausing its program for selling new shares.

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2026-04-15 13:00