What is the New 21Shares Staking Basket Index ETP?
Switzerland’s cryptocurrency scene just got more exciting with the introduction of the 21Shares Staking Basket Index ETP, aka STAKE. Launched on January 18, this crypto exchange-traded product (ETP) is designed to offer investors exposure to a diverse array of proof-of-stake (PoS) coins. Oh, and it just so happened to hit the BX Swiss stock exchange like a rock star at a sold-out concert!
Like a Buffet, but for Crypto
STAKE is not a single-item meal but more like a buffet featuring up to 10 PoS cryptocurrencies. At launch, it tracks six tasty options: BNB, Cardano, Cosmos, Polkadot, Solana, and Tezos. Not bad for an appetizer, right? The index will make sure to stay fresh, rebalancing itself every March and September to reflect market shifts. Talk about a well-dressed investment!
The Bigger Picture: 21Shares’ Crypto Lineup
With the addition of STAKE, 21Shares and its parent company 21.co are turning heads—now offering a whopping 47 crypto ETP products across 12 exchanges in nine countries. The aim? To provide a safe and secure route for investors seeking a taste of the crypto pie without the risk of biting into the blockchain dust directly.
Passive Profits: The Promise of STAKE
Arthur Krause, the director of ETP products at 21.co, certainly loves to sprinkle some optimism on his statements. He remarked, “STAKE provides value for investors by using the ETP’s assets to generate a passive yield…” Yep, ladies and gentlemen, STAKE might just pave the way to some extra cash flow while securing networks. No one said making money in crypto had to be stressful!
What to Watch Out For? Regulation Concerns Looming
Of course, it isn’t all sunshine and rainbows in Cryptoland. With heavyweights like Gary Gensler from the SEC casting discerning eyes, concerns showered over crypto staking. Gensler likened it to traditional lending—definitely not the best PR for the crypto boys! Thailand even decided to put a leash on crypto firms regarding staking and lending services. However, Krause reassured everyone: “The 21Shares Staking Basket ETP does not engage in any lending whatsoever…” So fret not, they’re sticking to their guns on this one.
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