CoinShares, one of the largest crypto investment firms in Europe, and FTX crypto exchange have united forces to launch a new physically-backed Solana (SOL) exchange-traded product (ETP).
The new product, titled CoinShares FTX Physical Staked Solana, is launching with 1 million SOL in seed capital, allowing investors to get 3% in staking rewards, CoinShares officially announced on Wednesday. The new cryptocurrency ETP is the first initiative between FTX and CoinShares.