A cryptocurrency company by the name of 21Shares, which has its headquarters in Switzerland, is placing its bets on proof-of-stake (PoS) coins by launching a new cryptocurrency exchange-traded product (ETP) that is solely focused on staking. This decision was made in order to increase the company's chances of success.
The business introduced a brand new exchange-traded product (ETP) on January 18th, which was given the name 21Shares Staking Basket Index ETP. It is a crypto staking index that is intended to monitor up to ten distinct Proof-of-Stake currencies simultaneously.
As a consequence of the merger with STAKE, 21Shares and its parent company, 21.co, now provide a combined total of 47 crypto exchange-traded product offerings (ETPs) to investors in 12 different markets and 9 different countries.
Despite this, the performance of the ETPs has been strong during the first few weeks of 2023, with the performance of AXTZ gaining 38% year-to-date and the performance of ASOL climbing 78% year-to-date respectively.
Krause highlighted that assets such as Solana, which is extensively related to the previous FTX exchange, have not had any influence on the goods that 21Shares has to offer and that this is something that he has been emphasizing throughout the conversation. He said that this is something that he has been highlighting throughout the conversation. As an example of what he meant, he said that "Solana, like practically all other crypto assets, had severe price drops in 2022 but did not suffer any fundamental damage that would bar its inclusion in the index." This was said in order to demonstrate his argument. In particular, he was alluding to the assertion that "Solana did not suffer any fundamental degradation that would bar its inclusion in the index."
The launch of STAKE on the market comes after a number of notable authorities from all around the world voiced their worries over the staking of cryptocurrencies.