CoinShares Enhances Staked ETP Lineup with Algorand Launch

CoinShares (Nasdaq First North Growth Market: CS; US OTCQX: CNSRF), which claims to be Europe’s largest digital asset investment firm with $1.5 billion in AUM, has announced the listing of their physically-backed staked Algorand ETP on Germany’s primary market Xetra.

CoinShares Physical Staked Algorand (Ticker: RAND) is “the latest ETP to leverage CoinShares’ proprietary technology platform, Galata, which allows investors to benefit from the rewards associated with participating in the Algorand blockchain’s security.”

CoinShares Physical Staked Algorand

  • Management Fee: Reduced to 0.0% p.a.
  • Staking Reward: 2.0% p.a.
  • ISIN: GB00BNRRF105
  • Ticker: RAND
  • WKN: A3GY74

Launched in 2019, Algorand is often “described as the first Pure Proof of Stake (PPoS) blockchain.”

In contrast to most Proof of Stake (PoS) networks, any network participant “can be a validator and the minimum stake required is relatively small (0.1 ALGO).” Validators can “secretly select themselves to participate in consensus, which can help preserve privacy and protect against attacks.” With a focus on sustainability, Algorand is “one of the few carbon-negative blockchains and has been since 2021.”

Townsend Lansing, CoinShares’ Head of Product, commented:

“Despite the volatility seen across digital asset markets in recent weeks, we are encouraged by the demand we’re seeing for our products, especially our range of bankruptcy-remote, physically-backed staked ETPs. An Algorand ETP with additional staking rewards was a key part of our long-term product strategy, and we are excited to be launching against the backdrop of positive regulatory news following the finalisation of the Markets in Cryptoassets Regulation in Europe, which we see as a fantastic first step towards a comprehensive and transparent regulatory regime governing digital assets.”

According to their website, CoinShares’ Staked ETPs are “built to allow the Issuer to share staking rewards with investors by both a) reducing the management fee and b) increasing the Coin Entitlement of the ETP each day, as staking awards accrue.”

Staked coins “do not move from the secure custodian where they are stored, and the ETPs remain 100% physically backed at all times.”

The Issuer formally “announced on July 14, 2022 a reduction in the management fees to 0.0% p.a. and additional Staking Rewards of 2.0% for CoinShares Physical Staked Algorand.”

CoinShares made headlines last week “after announcing the acquisition of Napoleon Asset Management, the first AIFM-regulated crypto asset manager, regulated under the Alternative Investment Fund Managers Directive (AIFMD).”

The acquisition “allows CoinShares to offer AIFMD-compliant products and services, in addition to its market-leading position as an issuer of crypto ETPs.”

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