Figment and Apex Group Ready to Roll Out Ethereum and Solana Staking ETPs on SIX Swiss Exchange

Provider of staking infrastructure services Figment Europe and financial services provider Apex Group will introduce Ethereum Offering Exchange-Traded Products (ETPs) for Ethereum (ETH) and Solana (SOL) on the Swiss stock market SIX Swiss Exchange Scheduled for release on March 12 by Issuance.Swiss AG.

The Figment Ethereum Plus Staking Rewards (ETHF) and Figment Plus Staking Rewards (SOLF) are crafted to offer institutional investors straightforward access to staking rewards, making it easier to engage through familiar brokers or financial institutions within the ETP model. Solana Josh Deems, Institutional Business Development Lead at Figment, shared, \"The rising interest in ETH and SOL has surged significantly in the last few months. Nonetheless, institutions still find it difficult to buy and stake crypto directly. These ETPs will enhance the accessibility of staking rewards for a broader demographic.\"

The Ethereum and Solana staking ETPs are designed to streamline the process for institutions looking to access staking rewards from proof-of-stake (PoS) assets. By utilizing an ETP structure, the product ensures full collateralization and over 50% staking utilization, much to the benefit of investors. This method allows institutions to securely manage these assets via the ETP, avoiding the complexities of directly funding Ethereum or Solana validators.

The Ethereum In addition to offering exposure to the principal cryptocurrency assets, the staking rewards earned through the ETPs also include the maximal extractable value (MEV)—the highest value validators can extract during block production, a portion of which may be passed onto stakers.

Figment's ETPs will be administered by Issuance.Swiss, a financial product issuance service from Apex Fund Services. Both offerings will incur a fee of 1.5%. Consequently, the goal is to provide a competitive reward rate, with expectations that over 50% of the underlying assets will be staked and subsequently reinvested by the issuer back into the ETP.

Figment aspires to be the go-to staking solution for institutions managing cryptocurrency assets, offering seamless access through custodians, trading platforms, and portfolio management systems. Currently, the company is dedicated to fine-tuning its ETPs, particularly in developing staking services tailored for Swiss institutions. management fee Increasing Interest from Institutions in Crypto Investments

After the successful rollout of spot Bitcoin exchange-traded funds (ETFs) in the U.S. earlier this year, many are optimistic about the potential emergence of spot Ethereum ETFs. Various asset management firms have recently submitted applications to launch an Ethereum ETF. However, opinions differ regarding the chances of these being approved by the SEC this year.

Similar dynamics to the process observed with CME futures and futures ETFs could precede the approval of Bitcoin spot ETFs in the U.S.; however, the chances of gaining approval for spot ETFs focused on Solana or other cryptocurrencies in the near future seem limited.

Recently, Cathie Wood, the CEO and CIO of a well-known investment firm, expressed doubts about the SEC approving spot ETFs for cryptocurrencies beyond Bitcoin and Ethereum. In an interview with the Wall Street Journal, she remarked, \"We would be surprised if any cryptocurrency, other than Bitcoin and Ethereum, received SEC approval.\" BlackRock , Fidelity, and Franklin Templeton The recent rollout of Ethereum and Solana staking ETPs by Figment represents a strategic initiative to simplify institutional access to staking rewards, while the broader adoption of other spot cryptocurrency ETFs faces mixed opinions and skepticism.

The potential approval process for spot Ethereum ETFs Securities and Exchange Commission

Please note that the information on this page is intended for informational purposes only and should not be construed as legal, tax, investment, or financial advice. Always invest only what you can afford to lose, and seek independent financial guidance if needed. For further details, we recommend reviewing the terms and conditions as well as the help and support sections provided by the issuer or advertiser. MetaversePost is dedicated to delivering accurate and unbiased reporting; however, market dynamics can shift without prior notice. uk Alisa, a committed journalist at Cryptocurrencylistings, specializes in cryptocurrencies, zero-knowledge proofs, investments, and the broad landscape of Web3. With a sharp focus on emerging trends and technologies, she provides in-depth coverage to keep readers informed and engaged in the ever-changing world of digital finance.

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