CoinShares, Europe’s largest digital asset investment firm with $4 billion in assets under management, announced that it has launched the world’s first physically-backed crypto exchange-traded products (ETPs) designed to share stake rewards with investors. CoinShares offered this service for two altcoins, Tezos and Polkadot. As Kriptokoin.com, we convey the details…
Important news for two altcoins from CoinShares
CoinShares Physical Staked Tezos and CoinShares Physical Staked Polkadot, these ETPs with staking rewards and low transaction fees, will be listed on Germany’s main market Xetra. The new ETPs leverage CoinShares’ technology platform to provide simple exposure to proof-of-stake protocols and rewards for participating in their security.
According to their website, CoinShares staked ETPs are built in a way that allows the issuer to share the stake rewards with investors by reducing the management fee and increasing the return of the ETP each day as the stake rewards accrue. With this announcement, the total number of ETPs CoinShares has released has increased to six. In this regard, Townsend Lansing, Head of Product at CoinShares, used the following statements:
Proof-of-stake protocols require investors to use their assets to validate the network and its transactions. The validator also earns the digital currency of the protocol; This means that investors can contribute their assets to create large pools that share these rewards. We are proud to launch the first physically backed crypto ETPs with a unique mechanism that allows us to transparently share stake rewards with investors.