• 21Shares has launched a new crypto exchange-traded product (ETP) dedicated to staking called 21Shares Staking Basket Index ETP.
• The ETP tracks six digital assets, including BNB, Cardano, Cosmos, Polkadot, Solana and Tezos.
• The index will rebalance semi-annually in March and September, following market shifts.
Swiss-based cryptocurrency firm 21Shares has debuted a new crypto exchange-traded product (ETP) dedicated to staking. The product, called 21Shares Staking Basket Index ETP, was launched on Jan. 18 and immediately began trading on BX Swiss, a Swiss stock exchange, under the ticker STAKE.
The ETP provides investors with an alternative to direct crypto investment by tracking up to 10 proof-of-stake (PoS) cryptocurrencies. These include Binance Coin (BNB), Cardano (ADA), Cosmos (ATOM), Polkadot (DOT), Solana (SOL) and Tezos (XTZ). The index will be rebalanced semi-annually in March and September, following market shifts.
Arthur Krause, director of ETP product at 21.co, the parent company of 21Shares, emphasized that the Staking Basket ETP does not engage in lending. He believes that the product will bring value to investors by using the ETP’s assets to generate a passive yield that may offer additional returns by contributing to the network’s security.
21Shares and its parent company 21.co now offer 47 crypto ETP products across 12 exchanges in nine countries. The products are designed to offer a safe and secure way to gain crypto exposure.
The launch of the 21Shares Staking Basket Index ETP marks a significant milestone for 21Shares, which is the first issuer to offer a multi-asset staking ETP. The product is expected to help expand the crypto market and give investors more options for participating in the digital asset space.