London Stock Exchange lists new Bitcoin staking ETP
While earning yield on Bitcoin holdings is still a novelty, there are opportunities to do so through centralized lending platforms and Bitcoin-related networks.
DeFi Technologies’ subsidiary Valour has introduced a Bitcoin staking exchange-traded product (ETP) on the London Stock Exchange, providing investors with crypto yield opportunities as the UK moves toward easing restrictions on digital assets.
According to a Thursday announcement, the Bitcoin staking ETP has a 1.4% annual yield and is backed by Bitcoin (BTC) held in cold storage, with security coming from multiparty computation (MCP) technology.
For the moment, the new Bitcoin staking ETP is available to institutions and professional investors. The United Kingdom will allow retail investors to buy crypto exchange-traded notes (ETNs) again on Oct. 8, removing a ban in place since 2021.