CoinShares, a European investment firm focused on digital assets, announced Wednesday the launch of a new exchange-traded product tied to $BNB that incorporates staking rewards and carries no management fees.
The fund, the CoinShares $BNB Staking ETP, trades under the ticker CBNB and is fully collateralized by on-chain $BNB holdings and offers investors a 0.25% annual staking yield. It will be available on the SIX Swiss Exchange, one of the largest stock exchanges in Europe.
$BNB functions as the utility token for $BNB Chain, a blockchain network that supports decentralized applications spanning finance, gaming, and asset tokenization.
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