21Shares Staking Basket Index ETP currently tracks six cryptocurrencies.
21Shares, a technology and financial company working on issuing exchange-traded products (ETPs), has launched the world's first crypto staking index ETP, called 21Shares Staking Basket Index ETP (STAKE).
According to the press release shared on January 18th, the crypto staking index allows to track the performance of up to 10 proof-of-stake (PoS) cryptocurrencies. 21Shares claims that its STAKE product “generates additional yield by staking the underlying crypto assets, providing exposure to a crypto-native return stream that is independent of market returns.”
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Upon the launch, 21Shares tracks six cryptocurrencies, including Cardano (ADA), Polkadot (DOT), Solana (SOL), Binance Coin (BNB), Cosmos (ATOM), and Tezos (XTZ).
The index is set to rebalance on a "semi-annual basis" in March and September.
When talking about the launch, the Director of ETP Product at 21.co, the parent company of 21Shares, Arthur Krause, claimed that investors are becoming increasingly more interested in “diversified, crypto-native return streams.”
In particular, we've heard demand for a reliable and safe way to access staking, one of the most attractive potential return streams available in the crypto ecosystem. The 21Shares Staking Basket Index ETP does just that, and will be an attractive addition to many portfolios.
The 21Shares Staking Basket Index ETP was built in partnership with Swedish index provider Vinter and is currently available for trading on the BX Swiss exchange. However, in the announcement, 21Shares revealed that it plans to list ETP on Xetra Deutsche Boerse.
Vinter chief executive officer (CEO), Jacob Lindberg, shared his excitement about the collaboration by stating:
We are pleased to be launching the world's first crypto staking index ETP with 21Shares, which is another milestone in our great partnership. This product addresses demands from retail and institutional investors globally, and we look forward to continuing our work with 21Shares <...>.
After the newest launch, 21Shares and 21.co have 47 crypto ETPs across 12 exchanges and nine countries.
It is worth noting that 21Shares launched its first staking ETP in 2019, called 21Shares Tezos Staking ETP (AXTZ). Moreover, in June 2021, 21Shares rolled out Solana staking ETP. Furthermore, in October 2022, 21Shares listed its first physically-backed Bitcoin ETP in the Middle East.
