Smarter Web Company gets shareholder approval for UK BTC-backed preferred stock
Image: Crypto.newsBristol-based Smarter Web Company (LSE: SWC) received over 99.8% shareholder approval on September 28 to launch perpetual preferred shares backed by its Bitcoin treasury, the first such instrument for a UK LSE-listed firm. The shares will trade under ticker MORE, with a target raise of £15 million to £25 million to expand its BTC holdings. The offering remains contingent on FCA approval and broader market conditions.
Key points
- The proposed MORE preferred shares will be the first LSE-listed sterling perpetual preferred shares tied to a UK firm's Bitcoin treasury.
- The company targets a £15 million to £25 million raise from the offering to expand its Bitcoin holdings.
- The offering remains contingent on FCA approval and broader market conditions before it can launch.
Why it matters
The instrument would create a new UK-listed option for investors seeking Bitcoin-linked returns via traditional equity markets. It also marks a novel corporate treasury financing route for UK firms holding Bitcoin.
What's unclear
The reported size of Smarter Web Company's Bitcoin treasury differs between sources, with one citing ~2,878 BTC and the other citing 2,712 BTC as of August 2026
Neither report discloses a timeline for FCA review and approval of the proposed MORE preferred shares
Price context · BTC
At publication
$83,073.00
Now
$83,073.00
Change since
+0.00%
7 days · dashed line = publication
Sources · 2 publishers
Crypto.news
Tier 2
Smarter Web Company shareholders clear path for UK Bitcoin backed preferred shares
Coverage timeline
- First reported by Crypto Briefing
- Confirmed by Crypto.news
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
