VanEck addscrypto staking to Solana ETN, can this boost investor yields?
The post VanEck addscrypto staking to Solana ETN, can this boost investor yields? appeared on BitcoinEthereumNews.com.
VanEck’s Solana ETN on Euronext Amsterdam added crypto staking rewards, offering daily reinvested returns to boost investor yields. The move supports Solana’s network growth and signals increasing institutional interest in crypto-staking products in Europe. VanEck has enhanced its Solana [SOL] investment product in Europe by incorporating staking rewards. This was a move aimed at boosting returns for investors while supporting Solana’s broader adoption. The Solana Exchange Traded Note (ETN), listed on the Euronext Amsterdam stock exchange in the Netherlands, holds $74 million in assets. With the addition of staking rewards, the product will now allow investors to earn additional Solana returns, which will be reinvested daily. Staking rewards are generated by participating in the network’s consensus mechanism. This will help investors earn rewards for validating transactions on the Solana blockchain. VanEck’s decision to include staking in the ETN follows a similar strategy implemented in April with its Ethereum ETN, which also enabled investors to receive Ethereum staking rewards. To manage the staking process, VanEck will charge a 25% fee on the accrued rewards. How does this move benefit investors? For investors, the addition of crypto staking rewards to the Solana ETN provides an attractive opportunity to generate passive income while holding the digital asset. By reinvesting the daily rewards, investors can benefit from compounding returns, potentially increasing their overall yield. This feature makes VanEck’s Solana ETN more appealing to investors looking for diversified returns in the crypto market. The inclusion of staking in an institutional product like this signals growing confidence in Solana’s network and the broader crypto staking ecosystem. As more traditional financial products integrate staking rewards, it paves the way for increased institutional adoption of digital assets. VanEck’s decision to incorporate Solana staking aligns with the growing demand for more diverse crypto-based investment products in Europe. Impact on…
Filed under: News - @ October 22, 2024 12:21 pm