WisdomTree first to market with Ethereum staking fund using Lido’s stETH

Asset manager WisdomTree has launched the WisdomTree Physical Lido Staked Ether ETP (ticker: LIST), becoming the first to market with an Ethereum exchange-traded product that utilizes Lido's stETH for earning staking rewards, avoiding the unstaked buffers common in traditional products. The ETP began trading in Europe on exchanges like Deutsche Börse Xetra and SIX Swiss Exchange, reportedly launching with $50 million in committed assets under management. This move is seen as a significant step toward legitimizing decentralized finance (DeFi) by traditional asset managers, who usually rely on centralized staking providers. Lido's stETH is a liquid token representing staked ETH, which helps bypass Ethereum's staking lockup queues, although the protocol faces some centralization concerns within the community. WisdomTree noted that Europe's clear regulatory framework for physically backed crypto ETPs facilitated this launch.

(Source：The Block)