21Shares has added staking rewards to its Ethereum Core ETP, rebranding the product as Ethereum Core Staking ETP.
Switzerland-based crypto exchange-traded product firm 21Shares AG added staking to its Ethereum Core ETP, renaming the product to 21Shares Ethereum Core Staking ETP.
In a press release on Nov. 19, the ETP issuer said that the latest update allows investors to benefit from a potential income stream while maintaining exposure to Ethereum (ETH).
Hany Rashwan, co-founder and CEO of 21Shares, said the addition of staking to ETHC is the firm’s latest move to “provide the European market with the most cutting-edge digital assets products.” The Ethereum Core Staking ETP, available under the ETHC ticker, is listed on multiple exchanges, including the SIX Swiss Exchange, Deutsche Börse Xetra, Euronext Amsterdam, Euronext Paris, and the London Stock Exchange.
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The product is physically backed by Ethereum and tracks the performance of ETH, featuring management fees as low as 0.21%.
Unlike U.S.-issued exchange-traded funds, European ETFs such as ETHC are allowed to offer staking rewards. In contrast, the SEC has rejected Ethereum ETFs offering staking rewards due to concerns about market manipulation, the lack of regulatory oversight for staking activities, and potential risks for retail investors, particularly in the volatile crypto market.
As of press time, the average Ethereum staking yield is 3.17%, per data from Staking Rewards.
Read more: Bitwise acquires Ethereum staking provider Attestant with $3.7b in AUM
