Two new crypto funds set to offer investors staking yield access

A fund by Laser Digital offers investors exposure to the Polygon network, while a new 21Shares ETP focuses on staking rewards from Toncoin

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WindAwake/Shutterstock modified by Blockworks

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Two new crypto funds are set to pass along staking rewards to investors.

The crypto-focused subsidiary of Japanese investment bank Nomura offers exposure to Polygon’s native token, MATIC — as well as an additional yield.

Laser Digital’s Polygon Adoption Fund will hold TruMATIC, the liquid staking token received for depositing MATIC into the TruStake vault, according to Matt Molloy, venture lead at WebN Group.

WebN Group created the TruFin blockchain protocol, which has teamed up with DeFi protocols like Balancer and Chainlink to boost use cases for its TruMATIC token.

Read more: And then there were 11: Another fund joins the US spot bitcoin ETF fold

TruMATIC is a reward-bearing ERC-20 token, which increases in value as MATIC staking rewards accrue, Molloy told Blockworks. Investors in the fund therefore gain exposure to the MATIC network and the staking yield.

The TruStake vault has posted a MATIC yield of about 5% annual percent yield in the last nine months, Laser Digital said in a Wednesday news release. 

The Polygon Adoption Fund uses the Polygon AggLayer, which is designed to connect zero-knowledge technology-enabled layer-1 or layer-2 blockchains for cross-chain transactions almost instantly.

Sebastien Guglietta, head of Laser Digital Asset Management, said in a statement that the company seeks to “transform DeFi investment opportunities into investable [traditional finance] solutions.” It is set to first be available to institutional investors in the United Kingdom. 

The fund follows Laser Digital’s launch of bitcoin- and ether-focused products last year. Its Ethereum Adoption Fund claimed to offer a staking facility giving a yield of roughly 5.5%.

Read more: Nomura’s Laser Digital follows BTC fund with ETH offering

Laser Digital’s launch came the same day that the world’s largest issuer of crypto ETPs introduced another way for investors to access staking rewards. 

Set to start trading on the SIX Swiss Exchange Wednesday, the 21Shares Toncoin Staking ETP offers a “hassle-free gateway to staking rewards within the blockchain ecosystem,” 21Shares co-founder Ophelia Snyder said in a statement.  

Toncoin (TON) is the native currency of the TON network. The estimated staking reward rate for TON is about 4.1%, according to Coinbase.

Switzerland-based 21Shares offers 40 ETPs listed on 11 exchanges, according to the firm’s website.  

The company joined forces with Ark Invest to launch a US spot bitcoin ETF in January and is among a group of issuers seeking to bring to market a US fund that would directly hold ETH.

Correction March 27, 2024 at 10:14 am ET: Venture lead at WebN Group is Matt Molloy not Mike Molloy.


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