ETP issuer Valor has launched a fully backed Ethereum staking ETP on the London Stock Exchange, marking a crucial milestone for institutional access to decentralized finance in the UK.
Valour, a Swiss digital asset investment company managed by DeFi Technologies Inc., has introduced an Ethereum (ETH) staking exchange-traded product physically backed by the London Stock Exchange, providing institutional investors with passive, zero-effect exposure. leverage ETH while allowing them to earn staking rewards.
In a September 30 press release, the Swiss company said the product complied with Financial Conduct Authority stipulations and was backed by ETH held in cold storage by custodians Copper Markets AG, with staking services provided by Blockdaemon.
London welcomes first Ethereum ETP with staking
The launch follows the LSE guidelines for the admission of physically backed crypto ETPs. According to Olivier Roussy Newton, CEO of DeFi Technologies, the product bridges traditional finance and digital assets, providing institutional investors with an efficient way to gain exposure to Ethereum and its staking advantages. For Valour, the latter product s adds to more than a dozen cryptocurrency-related ETPs already available to investors.
The move aligns with recent developments in the United States, where the Securities and Exchange Commission approved Ethereum spot ETFs in mid-July, but without staking rewards. Ethereum staking returns, currently around 3.19% according to Staking Rewards data, are expected to gain prominence as FalcoX analysts predict a bull market driven by increased liquidity and favorable results in the Ethereum elections. 2024.
