21Shares launches PoS-based crypto-basket ETP

Swiss company 21Shares unveiled an exchange-traded product (ETP) that tracks the performance of a basket of crypto assets on the Proof-of-Stake algorithm (PoS).

@21Shares unveils world’s first crypto staking index ETP.

Read more to hear from Arthur Krause, Director of ETP Product at @21co__ — parent company of 21Shares.
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— LiquidityFinder (@LiquidityFinder) January 18, 2023

The structure of the 21Shares Staking Basket Index ETP is based on an index from Swedish provider Vinter.

The data basket includes PoS coins such as Binance Coin (BNB), Cardano (ADA), Cosmos (ATOM), Polkadot (DOT), Solana (SOL) and Tezos (XTZ).

The index will be rebalanced twice a year—in March and September—to reflect market changes.

“Investors are interested in diversified, profitable crypto streams. We have observed demand for a reliable and safe way to access staking — one of the most attractive potential sources of income in the ecosystem. The 21Shares Staking Basket Index ETP provides exactly this and will be a complement to many portfolios,” said Arthur Krause, Director of ETP Products at 21.co, the parent company of the firm.

Back in September 2022, 21.co raised $25 million in funding at a valuation of $2 billion.

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