CoinList launches multi-chain staking fund for U.S. accredited investors

Markets • October 12, 2023, 9:05AM EDT

Published 5 minutes earlier on

Quick Take

CoinList is launching a fund that will allow U.S. accredited investors to earn returns from the staking of several different digital assets including Ethereum and Near.

CoinList is launching a fund which will allow U.S. accredited investors to earn returns from a product that generates returns from staking digital assets, the company said in a statement.

CoinList's new financial instrument initially supports the staking of Ethereum ETH +0.74% and Near. Going ahead, the company plans to add support for several other chains including Flow, Sui and Mina. The fund appears to offer an alternative avenue for investors to earn passive income from staking without having to own the digital assets themselves.

“Each digital asset will be pooled with like assets and staked according to the requirements of the protocol, and investors’ rewards will be issued in the native token in which they initially purchased fund interests or according to the rules of the protocol,” CoinList said in its statement.

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Ethereum staking, in particular, has seen significant growth since the Merge and Shanghai upgrades. That has, however, also led to a decline in staking yield.

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RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.