In a groundbreaking move for European finance, Bitcoin Treasury Capital has secured approval for a preferred share offering backed entirely by Bitcoin. This initiative, touted as a first for the continent, reflects an innovative approach to merging cryptocurrency with traditional equity markets.

Details of the Offering

Based in Stockholm, Bitcoin Treasury Capital, officially known as B Treasury Capital AB, is set to issue 195,078 Class A preference shares on the Spotlight Stock Market. Priced at SEK 120 each, these shares promise a 10% annual dividend, significantly above current yields for European fixed-income products. Trading is slated to commence on July 20, 2026, following the announcement of the rights issue on June 5, 2026.

The offering aims to raise approximately SEK 23.4 million (around $2.5 million), with proceeds earmarked for acquiring additional Bitcoin, thereby strengthening the company’s existing reserves. As of mid-July 2026, B Treasury Capital holds about 172 BTC, valued at roughly $11 million, which underpins the dividend payments to preference shareholders.

Understanding the Structure

Bitcoin Treasury Capital employs a dual-class equity structure designed to cater to different investor preferences. While common shares, trading under the ticker BTCB, provide direct exposure to Bitcoin price fluctuations, the preferred shares (BTC PREF) are insulated from such volatility. This structure allows institutional investors to participate in cryptocurrency markets while also securing a yield-generating instrument.

CEO Christoffer De Geer emphasizes that the company’s strategy revolves around Bitcoin as a reserve asset, marking a strategic focus that differentiates it from other financial entities in the region.

Implications for the Financial Landscape

This issuance is not Bitcoin Treasury Capital's first venture into preference shares. In December 2025, the company successfully raised SEK 7.2 million through a smaller offering. The current offering significantly expands their approach, tripling the number of shares previously issued.

Claiming to be the first of its kind in Europe, the BTC-backed preferred shares are positioned to attract institutional allocators who seek to incorporate cryptocurrency into their portfolios while prioritizing yield. The attractive 10% dividend yield addresses growing demand for income-generating instruments amid an evolving financial landscape.

This material is informational and should not be considered financial advice.