ETC Group introduces Ethereum staking exchange-traded product (ETP)
ETC Group, a well-known provider of digital asset-backed securities, has recently expanded its cryptocurrency product range by launching an Ethereum (ETH) staking exchange-traded product (ETP). The ETC Group Ethereum Staking ETP (ET32) is now listed on Deutsche Börse’s Xetra platform, offering investors exposure to Ethereum’s price along with additional staking rewards. With a total expense ratio (TER) of 0.65%, ET32 aims to cater to the needs of institutional investors seeking to capitalize on Ethereum’s potential.
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ET32 ETP Aims to Meet Requirements of Institutional Investors
The ET32 ETP tracks the Compass Ethereum Total Return Monthly index, designed to meet the requirements of institutional investors. By utilizing staking, investors can earn not only from Ethereum’s price movements but also from the staking rewards generated. However, a 10% staking service fee will be deducted from the total rewards received. ETC Group has emphasized that the current staking yield market stands at 3.5%, subject to change based on network activity and the total amount of Ethereum being staked.
Ethereum ETFs Could Get Approved by May
There is anticipation surrounding a potential approval for a spot Ether exchange-traded fund (ETF) by the United States Securities and Exchange Commission by May. The odds currently indicate a 45% likelihood of approval, with forecasts suggesting a 70% chance of approval for Ether ETFs. Institutional investors are showing interest, and the market is optimistic about the approval.
Ether has seen a 40% increase year-to-date, trading at $3,203, while Bitcoin has experienced a 32% increase year-to-date, trading at $55,656. Additionally, Coinbase has shown its support for Grayscale’s application to convert its Ethereum Trust into a spot Ether ETP.
Overall, the introduction of the Ethereum staking ETP by ETC Group and the potential approval of Ethereum ETFs signal a shifting landscape in the cryptocurrency market, with more opportunities emerging for institutional investors to participate in the growing digital asset space.
