Switzerland-based 21Shares has updated its Ethereum Core ETP by adding staking capabilities, now known as the 21Shares Ethereum Core Staking ETP.
New Phase for Ethereum Core Staking ETP
In a November 19 press release, the company announced the updated product enables investors to earn potential income through staking while maintaining exposure to Ethereum (ETH). Hany Rashwan, co-founder and CEO of 21Shares, stated that integrating staking into ETHC is the firm's latest effort to deliver the most advanced digital asset products to the European market.
Market Impact and Regulatory Landscape
The rebranded product is now listed on several major exchanges, including the SIX Swiss Exchange, Deutsche Börse Xetra, Euronext Amsterdam, Euronext Paris, and the London Stock Exchange. It is physically backed by Ethereum and mirrors its performance, offering low management fees. Previously, 21Shares launched the 21Shares Core Ethereum ETF, reflecting the firm's efforts to enhance access to crypto assets. Co-founder and President Ophelia Snyder emphasizes the importance of bridging traditional and decentralized finance amidst evolving regulatory landscapes.
Staking Trends in the Industry
Staking has gained traction among asset managers in recent months. For example, Bitwise expanded its portfolio by acquiring the London-based non-custodial Ethereum staking service Attestant, boosting its assets under management to over $10 billion.
The addition of staking to the Ethereum Core ETP by 21Shares underscores the growing interest among asset managers in staking and the aim to enhance access to crypto products. It also marks a step towards adapting to new regulatory changes.
