21Shares made three changes this week across five of its U.S. crypto exchange-traded funds. On Aug. 25, the issuer renamed its Ethereum ETF to the 21Shares Ethereum Staking ETF and its Polkadot fund to the 21Shares Polkadot Staking ETF, putting the staking-yield feature directly into the legal product names. The Bitcoin, XRP, and Dogecoin funds kept their existing names.
A second change takes effect on Aug. 27, when all five funds move to FTSE index pricing. That switch replaces the expiring CF Benchmarks licensing rate used by the products. 21Shares also changed how often sponsor fees are charged: instead of weekly collections, the fees will now be taken at least once per quarter, while still being paid in the relevant token.
The Ethereum fund had already started staking ETH earlier this year. According to the source report, the renaming is intended to make the yield component explicit in the fund’s formal name. BeInCrypto said competition around yield-bearing Ethereum products is getting tighter as institutions including BlackRock and Fidelity have launched or applied for staking Ethereum offerings.
21Shares made three changes this week to five of its U.S. crypto ETFs.
On Aug. 25, the firm renamed its Ethereum ETF as the 21Shares Ethereum Staking ETF and its Polkadot fund as the 21Shares Polkadot Staking ETF to highlight their staking-yield features. The Bitcoin, XRP, and Dogecoin funds kept their existing names.
Starting Aug. 27, all five funds will use FTSE indexes as their pricing benchmark, replacing an expiring CF Benchmarks licensing rate.
21Shares also changed the sponsor-fee collection schedule. Instead of being charged weekly, the fees will now be collected at least once per quarter, while still being paid in the relevant token.
The 21Shares Ethereum fund had already begun staking Ether earlier this year. The renaming is meant to place the yield feature directly into the product’s legal name. BeInCrypto said yield competition has been heating up as institutions including BlackRock and Fidelity have launched or applied for staking Ethereum products.
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