CoinShares (Nasdaq First North Growth Market: CS; US OTCQX: CNSRF), Europe’s digital asset investment firm with US$1.6bn* in AUM, announced the addition of two physically-backed ETPs to their growing range of staked ETPs listed on Germany’s main market Xetra.
Both CoinShares Physical Staked Matic (Ticker: CPYG) and CoinShares Physical Staked Cosmos (Ticker: COMS) leverage the Company’s proprietary technology platform, Galata, to provide investors with exposure to the underlying cryptocurrency plus an additional yield of 5.0% p.a.
CoinShares Physical Staked Matic
- Management Fee: Reduced to 0.0% p.a.
- Staking Reward: 5.0% p.a.
- ISIN: GB00BNRRB013
- Ticker: CPYG
- WKN: A3GVCY
MATIC is the native token of Polygon; a Proof of Stake blockchain tied to the Ethereum network which offers a suite of scaling solutions to help make Ethereum faster and cheaper while preserving most of the decentralised features and security benefits. Its future scaling solutions range from rollups that bundle and process transactions, to data layers where users can store transaction data cheaply.
CoinShares Physical Staked Cosmos
- Management Fee: Reduced to 0.0% p.a.
- Staking Reward: 5.0% p.a.
- ISIN: GB00BNRRF980
- Ticker: COMS
- WKN: A3GY73
Launched in 2019, Cosmos is the world’s largest ecosystem of interconnected chains. Cosmos is a Proof of Stake network that allows users to create their own blockchains with their easy-to-use software development kit. There are dozens of individual blockchains running with the Cosmos architecture and moving forward, Cosmos can be used to secure many of these chains. In return for securing the services on the Cosmos Hub, transaction fees and staking rewards are distributed to Cosmos stakers.
Frank Spiteri, CoinShares’ Chief Revenue Officer, commented on the news, “With CoinShares’ Staked ETPs investors are gaining exposure not only to the price of the underlying cryptocurrency, but also the additional yield associated with participating in that blockchain’s security. We are delighted with the positive feedback we’ve received around our staked crypto ETPs so far, and it is our expertise and experience within crypto markets, and crypto foundations which makes innovations like this possible within our products.”
According to their website, CoinShares’ Staked ETPs are built to allow the Issuer to share staking rewards with investors by both a) reducing the management fee and b) increasing the Coin Entitlement of the ETP each day, as staking awards accrue.
The Issuer formally announced on June 21, 2022 a reduction in the management fees to 0.0% p.a. and additional Staking Rewards of 5.0% for both the Matic and Cosmos ETPs.
CoinShares also notes that staked coins do not move from the secure custodian where they are stored, and the ETPs remain 100% physically backed at all times.
Source: CoinShares International Limited
