FTX joins forces with CoinShares to launch Solana ETP

Leading crypto exchange FTX (FTX/USD) and CoinShares, the most prominent digital asset investment company in Europe with $3.8 billion in assets under management, announced a partnership today.

The physically-backed Solana ETP (exchange-traded product) is their first project. It launches with 1 million SOL (SOL/USD) in seed capital, a zero management fee, and staking rewards of 3.0% p.a., Invezz learned from a press release on PR News Wire. The ETP is designed to share staking rewards transparently.

A giant leap forward

FTX’s partnership with CoinShares is their latest move into the institutional space after launching FTX Access, which offers index products, analytical tools, advisory services, trade execution, and more.

The agreement is in line with CoinShares’ mission of bridging the gap between digital assets and traditional finance in a transparent, secured, and familiar manner.

Sam Bankman-Fried, FTX CEO, commented on the partnership:

Cutting-edge tech platform bridges CeFi and digital assets  

The Solana ETP project takes advantage of Galata, CoinShares’ tech platform, which functions as a bridge, connecting digital asset markets and protocols to CeFi platforms together with the crypto exchange’s leading offerings to institutional clients.  

CoinShares’ Solana ETP will be listed on Xetra, a leading German market. This is their fourth ETP launch this year.

CoinShares CEO Jean-Marie Mognetti stated:

Frank Spiteri, CoinShares Chief Revenue Officer added: