21Shares’ New ETP Provides Exposure to PoS Cryptocurrencies But No ETH

21Shares announced the launch of first-of-its-kind crypto staking index ETP focused on proof-of-stake-based coins.

Dubbed 21Shares Staking Basket Index ETP (STAKE), the product will essentially provide exposure to staking rewards while tracking the performance of underlying staked coins via a single ETP.

World’s First Crypto Staking Index ETP

According to the official press release, the index will track ten crypto-assets, including Binance Coin (BNB), Cardano (ADA), Cosmos (ATOM), Polkadot (DOT), Solana (SOL), and Tezos (XTZ).

It is expected to address demands from both retail and institutional investors across the world.

Despite the fact that STAKE is designed to track PoS-based coins, the product, however, does not include Ethereum (ETH).