Valour, the ETP issuer, has launched a fully backed Ethereum staking ETP on the London Stock Exchange, representing a significant advancement for institutional access to decentralized finance in the U.K.
Valour, a Swiss digital asset investment firm managed by DeFi Technologies Inc., has unveiled a physically-backed Ethereum (ETH) staking exchange-traded product on the London Stock Exchange, enabling institutional investors to gain passive, non-leveraged exposure to ETH while earning staking rewards.
In a press release dated Sept. 30, the Swiss firm indicated that the product is compliant with the Financial Conduct Authority’s regulations and is backed by ETH held securely in cold storage by custodians Copper Markets AG, with staking services provided by Blockdaemon.
London introduces first Ethereum ETP with staking
The launch comes after LSE’s guidance to admit physically-backed crypto ETPs. According to DeFi Technologies CEO Olivier Roussy Newton, the product serves as a bridge between traditional finance and digital assets, providing institutional investors with an efficient means to access Ethereum and its staking advantages. For Valour, this product adds to the over a dozen crypto-linked ETPs already offered to investors.
This development aligns with recent events in the U.S., where the Securities and Exchange Commission approved Ethereum spot ETFs in mid-July, albeit without staking rewards. Current Ethereum staking yields, approximately 3.19% as per data from Staking Rewards, are anticipated to become more significant as analysts at FalcoX forecast a bullish market fueled by increased liquidity and positive outcomes in the 2024 elections.
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