10 hours ago
Crypto plus manager CoinShares has launched a caller exchange-traded merchandise (ETP) that gives investors vulnerability to Sei (SEI) portion eliminating absorption fees and offering a 2% staking yield.
The product, listed nether the ticker CSEI, volition beryllium traded connected the SIX Swiss Exchange. It marks the archetypal regulated concern conveyance offering nonstop entree to SEI, a Layer-1 blockchain designed to enactment high-speed, low-latency trading infrastructure.
CoinShares, which manages implicit $8 cardinal successful integer assets, said the motorboat aims to region hurdles for organization investors who antecedently faced analyzable custody and operational requirements to entree SEI.
The merchandise is physically backed by SEI tokens and automatically distributes a 2% annualized staking output to investors. The motorboat comes soon aft CoinShares became the archetypal European crypto plus manager to person a Markets successful Crypto Assets (MiCA) license.
The ETP is passported crossed CoinShares’ European marketplace footprint acknowledgment to the company’s licenses.
Various crypto ETPs person been launched successful Europe, but these funds’ adoption has lagged acold down that of spot ETFs successful the U.S. JustETF information shows a full of 108 products person astir 13.92 cardinal euros ($16.21 billion) successful assets nether management.
In comparison, BlackRock’s IBIT has implicit $86 cardinal successful nett assets. Spot bitcoin (BTC) ETFs, according to SoSoValue, person a full of $151.4 cardinal successful full nett assets.
Read more: Crypto Asset Manager CoinShares Secures EU-Wide MiCA License
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