CoinShares (“the Company”) (Nasdaq First North Growth Market: CS; US OTCQX: CNSRF), Europe’s largest digital asset investment firm with US$3bn in AUM, announced the launch of the world’s first physically-backed Cardano exchange traded product (ETP) designed to share the rewards of staking with investors in a transparent way. CoinShares Physical Staked Cardano leverages the Company’s technology platform to provide investors with exposure to Cardano and the rewards for participating in the blockchain’s security.
CoinShares Physical Staked Cardano will be listed on Germany’s main market Xetra and is the third ETP launched by CoinShares this year.
CoinShares Physical Staked Cardano
Management Fee: Reduced to 0.0% p.a.
Staking Reward: 3.0% p.a.
The unique staking mechanism allows the Issuer to share staking rewards with investors by reducing the management fee and increasing the Coin Entitlement of the ETP each day, as staking rewards accrue. Staked coins do not move from the secure custodian where they are stored, and the ETPs remain 100% physically-backed at all times.
The Issuer formally announced on March 11, 2022, a reduction in the management fee to 0.0% p.a. and additional Staking Rewards of 3.0% p.a. for Cardano.
Townsend Lansing, Head of Product at CoinShares, commented on today’s news, “Following the successful launch of our Staked Polkadot and Tezos ETPs on Xetra earlier this year, we are excited to add Cardano to our range of physically-backed staked products. This is the first Cardano ETP in the world to feature transparent staking rewards for investors, and we look forward to launching more digital asset ETPs with best-in-class structures in the coming months.”
This launch brings the total number of ETPs launched on the CoinShares Physical ETP platform to seven and comes after the Company announced its Q4 & preliminary full-year 2021 results, which were the strongest full-year & fourth-quarter financial results in the Group’s history.