As a seasoned researcher with a keen interest in the ever-evolving world of cryptocurrencies, I find the recent development by 21Shares to be quite intriguing. The addition of staking rewards to their Ethereum Core ETP, rebranding it as the Ethereum Core Staking ETP, is a strategic move that could potentially revolutionize how European investors approach digital assets.
As a researcher, I’ve recently learned that 21Shares has enhanced its Ethereum Core ETP by incorporating staking rewards. This update has led to a rebranding of the product, transforming it into what is now known as the Ethereum Core Staking ETP.
21Shares AG, a cryptocurrency exchange-traded product company based in Switzerland, has introduced staking functionality to its Ethereum Core ETP and renamed it as the 21Shares Ethereum Core Staking ETP. In simpler terms, they’ve added an option for users to earn rewards by helping secure the Ethereum network, and the name of the product now reflects this new feature.
According to a statement made public on November 19th, the company behind the Ethereum Trust Product announced that its recent update offers investors an opportunity to earn potential income, all while keeping their investments tied to Ethereum.
21Shares, with Hany Rashwan as co-founder and CEO, announced their recent strategy to offer innovative digital asset products to the European market by introducing staking for ETHC. The Ethereum Core Staking Exchange Traded Product (ETP), identified by the symbol ETHC, is now accessible on several trading platforms such as the SIX Swiss Exchange, Deutsche Börse Xetra, Euronext Amsterdam, Euronext Paris, and the London Stock Exchange.
The product is physically backed by Ethereum and tracks the performance of ETH, featuring management fees as low as 0.21%.
While U.S.-based exchange-traded funds (ETFs) cannot provide staking rewards, European ETFs such as ETHC do offer them. Conversely, the U.S. Securities and Exchange Commission (SEC) has denied Ethereum ETF proposals that include staking rewards because of worries about market manipulation, insufficient regulatory oversight for staking processes, and potential risks for individual investors, especially given the crypto market’s volatility.
As of press time, the average Ethereum staking yield is 3.17%, per data from Staking Rewards.
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2024-11-19 13:03