Bringing Solana to Investors
In a groundbreaking collaboration, CoinShares, a leading European crypto investment firm, has partnered with FTX, the renowned crypto exchange, to unveil a new product that is sure to capture the attention of investors: the CoinShares FTX Physical Staked Solana. This exchange-traded product (ETP) is a game-changer, launching with a solid foundation of 1 million SOL as seed capital.
Staking Rewards That Shine
Now, what’s the catch? The answer is, there isn’t one! This ETP boasts an enticing 3% staking reward. Who wouldn’t want to earn money while they sleep, right? Investors can rest assured knowing that not only are their assets physically backed, but their rewards are also secured through a unique staking mechanism.
The Lowdown on Management Fees
In a refreshing twist of fate for investors tired of sky-high fees, CoinShares has decided to cut management fees down to a delightful 0.0% per annum. That’s right, you read it correctly. Thanks to the new staking mechanism, the costs become virtually a thing of the past!
Where to Find This ETP
The CoinShares FTX Physical Staked Solana ETP will be making its debut on Germany’s prestigious digital market, Xetra. This marks the fourth ETP launch for CoinShares in 2022, showcasing their rapid growth within the crypto space. Previous offerings included the Cardano, Tezos, and Polkadot ETPs, establishing a solid track record.
Words From the Leaders
FTX CEO Sam Bankman-Fried expressed excitement about the launch, stating, “The goal of FTX Access is to bring institutional-grade services and products to market in a cost-effective manner.”
His sentiments are echoed by CoinShares, emphasizing the importance of transparency and security, assuring investors that these staked coins will remain stationary in a secure custodian.
The Big Picture: Expanding Horizons
This collaboration comes on the heels of FTX’s recent streak of expansions across Europe, which included a nod from the Cyprus Securities and Exchange Commission. With this latest ETP, the chances for investors looking to dip into Solana just got a whole lot sweeter. Who knows? This could be the start of a new wave of ETPs that redefine how we think about cryptocurrency investments!
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