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Nov 13, 2026 10:59 AM
Updated Nov 13, 2026 11:38 AM

Bullish (NYSE: BLSH) staked BTC from its corporate treasury and 21shares returned for a third bond, as Bond 3 of Bitcoin staking with Stacks ($STX) sold out. Participants keep BTC on the Bitcoin L1 and earn BTC at a 3% target annual yield, fixed for the six-month term.

Bullish (NYSE: BLSH) and 21shares stake BTC as Bond 3 of Bitcoin staking with Stacks (STX) sells out at 1,005 BTC

Bond 3 of Bitcoin staking with Stacks has sold out at 1,005 BTC, with Bullish (NYSE: BLSH) and 21shares among its participants. Both institutions staked BTC on the Bitcoin L1 to earn BTC with Stacks at a 3% target annual yield, fixed for the bond’s six-month term, following the Genesis Bond in September and Bond 2 in October.

Bitcoin staking with Stacks is how BTC holders earn BTC. Participants timelock BTC on the Bitcoin L1, pair it with a fractional amount of STX on Stacks for a fixed term, and earn BTC.

Who took part in Bond 3

Bullish staked BTC from its corporate treasury. The company holds 22,000 BTC and ranks among the ten largest publicly traded holders of Bitcoin, according to CoinMarketCap, which makes it the first company in that group to earn BTC with Stacks. Bullish staked from BitGo qualified custody, using the Bitcoin staking infrastructure BitGo announced on November 3, 2026.

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21shares, which oversees more than $6.5 billion in assets under management across over 60 crypto ETPs globally, returned for Bond 3 after taking part in the Genesis Bond and Bond 2. Individual holders also took part through pooled Bitcoin staking, including via the Xverse pool.

Why Bond 3 matters

Bond 3 brings together the two kinds of institutional demand Bitcoin staking needs: an ETP issuer running regulated crypto products, and a public company staking from its own balance sheet. Public companies hold more than 1.3 million BTC, over 6% of total supply, according to CoinMarketCap, and most of that Bitcoin earns nothing while it sits on balance sheets.

Institutional participants can stake within the custody arrangements they already use, and the BTC stays on the Bitcoin L1 for the full term.

How Bitcoin staking works

Bitcoin staking pairs BTC with STX, the native asset of Stacks, at a current parameter of 5% of the BTC value. The yield comes from Stacks miners, who spend BTC to mine Stacks blocks and earn STX, and that BTC is distributed to participants every week.

What’s next

Bond 4 opens around December 3. Institutions can register at the institutional Bitcoin staking landing page including those staking from qualified custody at BitGo.

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