A new Bitcoin staking exchange-traded product (ETP) has been launched on the London Stock Exchange, introduced by Valour, a subsidiary of DeFi Technologies, according to an announcement on Thursday.
The product offers an annual return of 1.4% and is designed for institutional and professional investors.
Subscribe to our Telegram channel to get weekly short digests about events that shape the crypto world
This launch has been strategically timed ahead of the UK lifting its ban on crypto ETNs for retail investors on October 8.
The ETP is backed by cold-stored Bitcoin, using multi-party computation (MPC) technology to ensure security.
The news had a positive impact on the market, with shares in parent company DeFi Technologies closing up 5%.