21Shares Overhauls US Crypto ETFs with Staking Focus and Benchmark Switch

21Shares, an asset management company, has introduced significant changes to its US crypto exchange-traded funds (ETFs). The updates include renaming two Ethereum and Polkadot-focused ETFs to include 'Staking' in their names. This change highlights the growing importance of staking as a yield-generating feature for investors.

The rebranding affects the 21Shares Ethereum Staking ETF and the 21Shares Polkadot Staking ETF, with both funds having already implemented staking strategies to generate rewards. The Bitcoin, XRP, and Dogecoin funds remain unchanged in their names.

In addition to the name changes, 21Shares will switch its pricing benchmarks from CME CF to FTSE Russell digital asset indices starting August 27. This change is aimed at providing more accurate daily valuations for investors. The underlying assets, fund structure, custodians, and exchange listings will remain unchanged.

The third key modification involves the sponsor-fee payment schedule, moving from weekly to at least quarterly payments in arrears. This adjustment primarily affects the timing of fee payments rather than their rates.