FTSE-Priced Funds and Staking Renames Hit XRP, Dogecoin, and Ethereum ETFs

Major changes are taking place at 21Shares' US crypto funds. The Ethereum ETF has been renamed to the 21Shares Ethereum Staking ETF, and the Polkadot fund is now called the 21Shares Polkadot Staking ETF. These name changes reflect a shift towards staking, with the Ethereum fund having already started staking its ether since earlier this year.

The rename only affects the label, not the actual product. The yield is now a headline feature, written into the product's legal name. This change is significant as it follows BlackRock launching a separate staked fund, ETHB, and Fidelity filing to stake FETH's ether and pay holders quarterly cash.

Investors keep 85% of these rewards, while fees take the rest. Big money has taken notice, with Intesa Sanpaolo, Italy's largest bank, cutting its Bitcoin fund stake by 94% last quarter and tripling its staked-Ethereum position.

In addition to name changes, the price feed is also being updated. From Thursday, August 27, all five funds will value shares using FTSE indices, which are provided by FTSE Russell, a London Stock Exchange Group arm.