21Shares Overhauls Crypto Funds with Name Changes, Pricing Shift

21Shares has made significant changes to its US crypto funds, which have been in operation since earlier this year. The Ethereum ETF is now called the 21Shares Ethereum Staking ETF, reflecting its shift from a traditional tracking fund to one that stakes ether and pays holders quarterly rewards.

The Polkadot (DOT) fund has also undergone a name change to the 21Shares Polkadot Staking ETF. However, not all funds have adopted new names; the Bitcoin (BTC) fund, run in partnership with Cathie Wood's ARK Invest, retains its original label as ARKB.

These changes come into effect on Thursday, August 27, and will see all five funds use FTSE indices for pricing. This marks a departure from the current system using CF Benchmarks' CME-branded rates, which expire on August 31.

The switch to quarterly fees is another key change, with 21Shares now collecting its sponsor fee at least quarterly instead of weekly. The payment will remain in coins, including Bitcoin and DOT.