Switzerland-based crypto exchange-traded product firm 21Shares AG added staking to its Ethereum Core ETP, renaming the product to 21Shares Ethereum Core Staking ETP.
21Shares has added staking rewards to its flagship Ethereum Core ETP, rebranding the product as 21Shares Ethereum Core Staking ETP.
According to a press release on Nov. 19, the latest update to the exchange-traded product allows investors to benefit from a potential income stream while maintaining exposure to Ether (ETH). The product is physically backed by ETH and tracks the performance of ETH.
The addition of staking to ETHC is part of 21Shares’ broader strategy to provide the European market with the most cutting-edge digital assets products. The product is listed on multiple exchanges, including the SIX Swiss Exchange, Deutsche Börse Xetra, Euronext Amsterdam, Euronext Paris, and the London Stock Exchange. It has management fees as low as 0.21%.
Exchange-traded products like 21Shares’ Ethereum Core Staking ETP differ from U.S.-issued exchange-traded funds in that they are permitted to offer staking rewards. In the United States, the Securities and Exchange Commission has rejected several applications for Ethereum ETFs that included staking rewards.
The SEC’s concerns reportedly include the potential for market manipulation, the lack of regulatory oversight for staking activities, and the inherent risks for retail investors in the volatile crypto market. As of press time, the average ETH staking yield is 3.17%, according to data from Staking Rewards.
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