Still In Cask has launched what the founders believe is the world’s first open, transparent peer-to-peer exchange for whisky cask shares, allowing owners to buy and sell shares in maturing whisky casks throughout the ageing process.
The new addition to the platform represents a significant evolution in whisky ownership, creating a live secondary market where cask shareholders can trade their positions before maturation and bottling. Until now, whisky enthusiasts purchasing cask shares would typically hold them until the whisky was bottled, often waiting five, ten or even twenty years before redeeming their allocation.
The launch addresses one of the biggest barriers to cask ownership: Time.
By allowing shareholders to exit early if circumstances change, or to sell one share and reinvest in another cask that better suits their interests, Still In Cask is making whisky cask ownership more flexible, accessible and liquid.
“Whisky ownership has been stuck in the past for too long,” said Liam Hirt, Founder of Still In Cask. “We’re building the world’s leading platform for cask share ownership by giving whisky lovers something they’ve never had before – freedom to choose the length of the investment. For the first time, people can buy, hold and trade cask shares in a fully transparent marketplace rather than being locked into a years-long commitment. This fundamentally changes how people engage with whisky and opens the door to a much wider audience.”
The platform allows customers to purchase shares in individual casks from participating distilleries, often for as little as £25 per share. Ownership is recorded on the Stellar blockchain, providing a public and immutable record of title. For example, a customer purchasing a share in a five-year-old maturation programme may choose to hold until bottling and receive whisky, or may decide to sell their share during the maturation period if demand for that cask increases or personal circumstances change.
Unlike traditional whisky investment structures, ownership contracts are formed directly between buyers and distilleries or cask owners. Still In Cask acts solely as the technology platform facilitating transactions and recording ownership transfers. The exchange operates continuously, with prices determined entirely by buyers and sellers. There are no market makers and no centrally controlled pricing mechanism. Sellers pay a 10% transaction fee when shares are successfully sold.
Still In Cask believes the platform is unique within the whisky industry because it offers a fully open and transparent secondary market. While some whisky ownership schemes and wine en primeur systems allow limited transfers or private resales, the company is unaware of any comparable public exchange that enables peer-to-peer trading of whisky cask shares at scale.
The launch has been enabled in part by regulatory changes following the removal of WOWGR (Warehousekeepers and Owners of Warehoused Goods Regulations) requirements for these ownership structures, creating new opportunities for transparent secondary trading.
Despite the introduction of trading functionality, Still In Cask emphasises that the platform is designed primarily for whisky enthusiasts rather than investors.
“Most of our customers are whisky drinkers and collectors,” added Hirt. “The most common thing we hear is, ‘I love this cask, but five years is a long time to wait.’ Life changes. Circumstances change. We believe people should have options.
“Equally, people often discover a new cask they prefer after they’ve already bought several others. The exchange allows them to curate their collection over time rather than being locked into decisions made years earlier.”
The company has introduced a 10% resale fee specifically to discourage short-term speculative trading and maintain a focus on collecting and enjoyment rather than rapid flipping.
Ownership records are maintained on the Stellar public blockchain, allowing transactions to be independently verified while ensuring a permanent and immutable record of title.
Casks remain stored at participating distilleries throughout maturation, with distilleries responsible for fulfilling bottle deliveries when the whisky reaches maturity.
While secondary market pricing may fluctuate and no returns are guaranteed, Still In Cask believes the exchange introduces a new level of flexibility and accessibility that has previously been unavailable to whisky enthusiasts.
Still in Cask reported an annual 30% increase in users in March 2026 and has sold over 4.5k cask shares in the 5 years since launch.
