Ethereum Core ETP gains staking rewards with 21Shares update

21Shares added staking rewards to its Ethereum Core ETP, rebranding the product as Ethereum Core Staking ETP.

Switzerland-based crypto exchange-traded product company 21Shares AG has added staking to its Ethereum Core ETP and changed the name of the product to 21Shares Ethereum Core Staking ETP.

The latest update allows investors to benefit from a potential income stream while maintaining exposure to Ethereum (ETH), the ETP issuer said in a press release on Nov. 19.

21Shares co-founder and CEO Hany Rashwan said the addition of staking to ETHC is the firm’s latest move to “provide the European market with cutting-edge digital asset products.” Ethereum Core Staking ETP, under the ticker ETHC, is listed on many exchanges, including the SIX Swiss Exchange, Deutsche Börse Xetra, Euronext Amsterdam, Euronext Paris and the London Stock Exchange.

The product is physically backed by Ethereum and tracks the performance of ETH with management fees as low as 0.21%.

Unlike US-issued exchange-traded funds, European ETFs such as ETHC are allowed to offer staking rewards. In response, the SEC rejected Ethereum ETFs offering staking rewards due to concerns about market manipulation, lack of regulatory oversight for staking activities, and potential risks for retail investors, especially in the volatile crypto market.

As of the date of publication, the average Ethereum staking return is 3.17%, according to Staking Rewards data.