21Shares Adds Staking to the 21Shares Cosmos ETP and the 21Shares Avalanche ETP

21Shares AG today announced that the firm has added staking to the 21Shares Cosmos ETP (ATOM) and the 21Shares Avalanche ETP (AVAX) and will be renaming them as follows, effective today:

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Hany Rashwan, Co-Founder and CEO of 21Share

Staking involves locking specific crypto-assets to support the operation and security of a blockchain network, earning rewards in the process. By integrating staking rewards into 21Shares ETPs, investors enjoy a potential additional income stream without having to keep their assets locked, enhancing overall returns while maintaining exposure to the respective underlying assets.

According to Coinbase (as of 16 July 2024), the average staking yield for Cosmos is around 12.74% and the average staking yield for Avalanche is 4.47%,

“Since 2018, 21Shares has pioneered the innovation of crypto asset exchange traded products (ETPs) globally,” said Hany Rashwan, Co-Founder and CEO of 21Shares. “Providing investors the opportunity to generate potential additional income through staking underscores the firm’s commitment to staying at the forefront of product innovation.”

In January 2022, 21Shares listed the world’s first crypto ETP for the Cosmos blockchain with the launch of ATOM. ATOM, which is 100% physically backed, delivers a regulated way to tap into Comsos’ network growth, which fosters cross-chain interoperability and allows siloed blockchains to communicate with each other—an essential component to the growth of decentralized finance (DeFi). Launched in November 2021, AVAX, also 100% physically-backed, tracks the performance of Avax tokens. Designed to increase transaction speeds and enable real-world asset tokenization, Avalanche is well-suited to support and scale the traditional financial industry. AVAX offers a simple and regulated way for investors to gain exposure to the network’s growth.

Source: ETFWorld.co.uk