21Shares Launches World’s First Crypto Staking Index ETP: STAKE

• 21Shares launched the world’s first crypto staking index ETP (STAKE)
• The index tracks ten crypto-assets, including Binance Coin (BNB), Cardano (ADA), Cosmos (ATOM), Polkadot (DOT), Solana (SOL), and Tezos (XTZ)
• 21Shares is aiming to list the product on Xetra Deutsche Boerse

Zug-based crypto firm 21Shares has announced the launch of the world’s first crypto staking index exchange-traded product (ETP) – 21Shares Staking Basket Index ETP (STAKE). This product provides exposure to staking rewards while tracking the performance of underlying staked coins via a single ETP.

The STAKE index tracks the performance of ten different crypto-assets, including Binance Coin (BNB), Cardano (ADA), Cosmos (ATOM), Polkadot (DOT), Solana (SOL), and Tezos (XTZ). It is the first index of its kind that aims to bridge the gap between the traditional finance and digital assets world, providing exposure to staking rewards to both retail and institutional investors across the world.

21Shares is now aiming to list the STAKE index on Xetra Deutsche Boerse, which is a German-based stock exchange. This will make the product accessible to a wide range of investors, giving them the opportunity to diversify their portfolio and to benefit from staking rewards.

The index was created by 21Shares in collaboration with the Swiss investment bank Vontobel, which is one of the major players in the European financial market. The index is designed to track the staking rewards of the underlying coins, taking into consideration their net staking rewards, staking expenses, and the cost of staking coins.

It is important to note that the STAKE index does not include Ethereum (ETH), which is the largest and most popular proof-of-stake (PoS) network. This is due to the complexity of Ethereum staking and the difficulty of accurately tracking the staking rewards of the network.

In the official press release, 21Shares stated that the STAKE index offers a “unique and cost-efficient investment solution that provides exposure to the staking rewards of the underlying coins and tracks the performance of the underlying staked coins via a single ETP”.

Overall, the launch of 21Shares’ STAKE index is a major milestone for the crypto industry and provides a much-needed bridge between traditional finance and digital assets. It also provides an opportunity for investors to diversify their portfolio and to benefit from the staking rewards of the underlying assets.