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Liqwid Finance Lists Cardano Staking ETP
Switzerland-based protocol Liqwid Finance is listing a Cardano Staking exchange-traded product (ETP) on the SIX Swiss Exchange today. The product, trading under the ticker symbol “CASL,” is being issued with Issuance.Swiss AG and is accessible to all kinds of investors.
Liqwid Capital announced that the CASL ETP captures the performance of the underlying cryptocurrency “ADA,” managed by the Cardano Foundation, and the interest earned by staking the token.
Florian Volery, co-founder of Liqwid Finance, stated, “With CASL, we want to bridge the gap between traditional and digital asset management. Investors benefit from a double return on their investment and lower management fees (1.5%) compared to competing products.”
More ETPs Being Listed in Europe
Figment Europe Ltd and Apex Group recently listed two crypto ETPs on the SIX Swiss Exchange. The “Figment Ethereum Plus Staking Rewards” ETP (ticker symbol “ETHF”) and the “Figment Solana Plus Staking Rewards” ETP (ticker symbol “SOLF”) are fully backed by Ethereum and Solana, respectively, using Figment’s staking infrastructure.
Unprecedented Demand From Institutional Investors
Crypto product providers note unprecedented demand for crypto ETPs, as institutions find it challenging to buy crypto and stake directly. During the recent crypto bear market, many ETPs faced closure, such as the delisting of Terra ETP and termination of five other crypto ETPs by 21Shares in March 2023 due to low investor demand.
European Market Leads the Way With ETPs
The U.S. Securities Exchange Commission (SEC) approved almost a dozen spot Bitcoin exchange-traded funds (ETFs), triggering a bull market and trading frenzy. In Europe, issuers have successfully listed numerous cryptocurrency ETPs over the years, providing investors exposure to Bitcoin and Ethereum. Major crypto ETP providers in Europe include CoinShares, 21Shares, WisdomTree, ETC Group, Valour, and Fidelity.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
