Cathie Wood-backed 21shares offers first staking index ETP

by Christiana Loureiro and Adam Morgan McCarthy

Markets • January 18, 2023, 9:49AM EST

Quick Take

The first crypto staking index ETP comes as cryptocurrencies are seeing a mild recovery in pricing after plummeting from Nov. 2021 highs.
21Shares already offers the 21Shares Solana Staking ETP and the 21Shares Tezos Staking ETP.

Cathie Wood-backed 21Shares unveiled the 21Shares Staking Basket Index ETP, the first crypto staking index ETP offering diversified staking income.

The 21Shares Staking Basket Index ETP tracks proof-of-stake cryptocurrencies including Binance Coin, Cardano, Cosmos, Polkadot, Solana and Tezos, the company said. The 21Shares staking index methodology was built in collaboration with Swedish index provider Vinter.

“Staking is a long-standing feature of the blockchain ecosystem that allows crypto holders to earn rewards in exchange for locking up their assets,” said Arthur Krause, director of ETP Product at 21.co, the parent company of 21Shares.

The ETP comes as cryptocurrencies are seeing a mild recovery in pricing after plummeting from Nov. 2021 highs. 21Shares already offers the 21Shares Solana Staking ETP and the 21Shares Tezos Staking ETP. Other European issuers offer ETPs that track PoS coins but not an index. CoinShares offers a physical staked Cardano ETP.

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The 21Shares Staking Basket Index ETP is available today for trading on the BX Swiss exchange. The index will rebalance on a semi-annual basis in March and September to reflect market shifts.

21.co raised $25 million at a $2 billion valuation in a funding round led by Marshall Wace in September.

About Authors

Christiana is a long-time journalist who has written about markets in the Americas, politicians who stashed cash in their underwear and high-end heels, to name just a few. She previously spent six years at Bloomberg, and her work has appeared in the WSJ, LA Times, Insider, Vogue Business and more. Christiana has a bachelor's degree in English from Pace University and a master's degree in journalism from New York University. She completed a master's degree in media psychology for fun.

Adam Morgan is a reporter covering cryptocurrency, financial markets, and economics – anything from price movements, earnings reports, and inflation to the U.S. Federal Reserve interest rate decisions and everything in between. Adam is based in London.