Stacks Launches Institutional Bitcoin Staking with Major Players

The Stacks ecosystem has launched Bitcoin Staking with several institutional participants, including 21shares, HashKey Cloud, UTXO Management, and Sypher Capital. These institutions have bonded a total of ~250 BTC in the Genesis Bond, the first institutional bonding period for Bitcoin Staking on Stacks.

The launch introduces a new way for institutions to earn BTC-denominated rewards while keeping their BTC on Bitcoin L1. This is made possible by using STX as the staking capacity asset that unlocks a target 3% APY in BTC-denominated yield.

Muneeb Ali, Founder of Stacks, said: 'The Genesis Bond moves Bitcoin Staking into live institutional participation.' Alistair Byas-Perry, Head of Capital Markets & Trading at 21shares, added: 'Participating in the Stacks Genesis Bond allows us to add another mechanism to generate native Bitcoin yield.'

The launch participants span the institutional Bitcoin market and demonstrate that Bitcoin Staking fits the standards that institutional committees apply to new yield sources.