21Shares launches Lido cryptocurrency ETP in response to liquid staking demand

Launched 21Shares Lido DAO ETP

Switzerland-based asset management firm 21Shares has launched a new ETP product powered by the Lido token of the liquid staking protocol Lido.

This ETP is called “21Shares Lido DAO ETP”, and it will be possible to invest in 22 European countries such as France and Germany. It is listed on SIX Swiss Exchange and BX Exchange.

The Lido DAO ETP provides exposure to ETH liquid staking (LSD), which is in high demand after the implementation of Ethereum “Chapela”. Lido DAO has the highest total asset value of any LSD protocol at 7,182,735 ETH (approximately $12.5 billion).

connection: Explanation of “LSD (Liquid Staking Derivative)” that enables operation while staking Ethereum

21Shares had launched a number of crypto-related ETPs, but suspended six crypto ETPs in March due to a drop in demand for some in the wake of the bear market.

connection: 21Shares to stop offering 6 cryptocurrency ETPs

The post 21Shares launches Lido cryptocurrency ETP in response to liquid staking demand appeared first on Our Bitcoin News.