The London Stock Exchange is now providing exposure to a new asset: Ethereum.
What’s happening:
- DeFi Technologies (CBOE: DEFI) has launched a new Ethereum Exchange Traded Product onto the London Stock Exchange
Why it matters:
- The London Stock Exchange previously made waves when they announced their intention to begin accepting applications for digital asset focused Exchange Traded Notes which marked a new paradigm for how crypto and the traditional public markets would intersect in the United Kingdom
- This is the first Exchange Traded Product that DeFi Technologies has launched onto the London Stock Exchange, with their prior launches being focused on the Nordic Growth Market
Going deeper:
- The Ethereum Physical Staking Exchange Traded Product from DeFi Technologies offers exposure to Ethereum and staking yield, while being fully backed by collateral that is held in cold storage with custodians
- Currently, the new Ethereum Physical Staking Exchange Traded Product is only available to institutional investors and is not yet accessible to retail investors as part of the London Stock Exchange’s policy on the initial rollout of digital assets into the traditional public markets
The intrigue:
- The popularity of crypto focused ETFs in the United States of America has been continuing to surge, with retail investors piling into leveraged ETFs providing exposure to MicroStrategy (NASDAQ: MSTR) and the formation of new partnerships between Galaxy Digital (TSX: GLXY) and State Street (NYSE: STT) to launch new digital asset ETFs
