Staking Wars Begin: Top Crypto ETF Issuers Launch New Features
The rush to introduce crypto asset staking in the United States is being joined by two significant crypto ETF issuers. On Tuesday, Bitwise and 21Shares released information on their cryptocurrency funds. These two firms also reduced their costs and introduced staking features for investors, just days after Grayscale introduced staking for the first time in its US Ethereum ETFs.
Bitwise Solana Staking ETF: Major Fee Cut and New Exposure Strategy
According to Bitwise‘s most recent filing, the product is now officially known as the Bitwise Solana Staking ETF. Additionally, it includes wording that permits the ETF to aim for exposure to the value of Solana that the Trust owns. Additionally, it adds a unitary management fee of 0.20%, which is waived for the first three months on the first $1 billion in assets and covers all fund running costs. The suggested fee, at that rate, is less expensive than the majority of rival crypto ETF filings, which normally fall between 0.21% and 0.25%. It also corresponds to the lowest levels observed in crypto goods that have been certified.
21Shares Boosts Ethereum ETF Appeal with Staking and Yearlong Fee Waiver
The 21Shares Ethereum ETF (TETH) product has been improved, according to 21Shares. Beginning October 9, the business, which included a staking feature, will waive the 0.21% sponsor fee for a full year. Federico Brokate, head of U.S. business at 21Shares, said in a statement that the move is being hailed as a logical progression of Ethereum investment products in the U.S. market.
Staking would allow the funds to receive small payouts for assisting in the security of blockchains such as Ethereum or Solana. Instead of depending only on price increases, investors can make extra income from the same assets by reinvesting those gains back into the ETF.
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