CoinShares and crypto derivatives exchange FTX have partnered for a physically-backed Solana exchange-traded product with 1 million SOL in seed funding.
The offering, CoinShares FTX Physical Staked Solana, will enable investors to earn 3% in staking rewards as per the announcement. Issuers can share staking rewards with investors in the products at lower management charges.
The product, the fourth ETP by CoinShare in the year, will be listed on German’s digital market Xetra.
The announcement follows the launch of FTX access, a platform offering advisory services like index products, trade implementation, and analytical tools to institutions.
CoinShare is the largest digital asset investment company in Europe, with Assets Under Management amounting to $3.8 billion.
The firm unveiled CoinShares Physical Staked Cardano ETP at the start of the month following CoinShares Physical Staked Tezos ETP and CoinShares Physical Staked Polkadot ETP in January.
Source: Coinshares