Liqwid Capital to List Cardano Staking ETP on the SIX Swiss Exchange Today
Switzerland-based protocol Liqwid Finance is listing a Cardano Staking exchange-traded product (ETP) on the SIX Swiss Exchange today.
The product will trade under the ticker symbol “CASL” and is being issued with Issuance.Swiss AG and will be accessible to all kinds of investors from today.
In an announcement, Liqwid Capital said the CASL ETP captures the performance of the underlying cryptocurrency “ADA” which is managed by the Cardano Foundation and the interest earned by staking the token.
“With CASL, we want to take a new step. One that will bridge the gap between traditional and digital asset management. Until now, most of the financial instruments available to investors in the crypto universe gave them access to developments in the underlying assets, Bitcoin, Ethereum, ADA, etc.” said Florian Volery, co-founder of Liqwid Finance, in a press release.
“We’re going one step further, by putting ADA’s outstanding assets to work and redistributing the interest to investors. Investors benefit from a double return on their investment, as well as lower management fees (1.5%) than the average of competing products,” added Volery.
On Tuesday, Figment Europe Ltd, a provider of institutional staking infrastructure, and Apex Group listed two crypto ETPs on the SIX Swiss Exchange.
The “Figment Ethereum Plus Staking Rewards” ETP is trading under the ticker symbol “ETHF” and the “Figment Solana Plus Staking Rewards” ETP is trading under the ticker “SOLF.” The products are fully backed by Ethereum and Solana, respectively, using Figment’s staking infrastructure
According to crypto product providers, there is unprecedented demand for crypto ETPs and it remains a challenge for institutions to buy crypto and stake directly. During the
