Coinbase Prime Offers Ethereum Staking To US Institutions

Benzinga2022-08-02

U.S.-based crypto exchange Coinbase Global Inc is expanding its Ethereum ETH/USD staking offering for domestic institutional clients.

What Happened: In a blog post on Monday, Coinbase said that institutions can enjoy an end-to-end staking experience on Coinbase Prime.

Staking provides a way for institutions to earn passive income on their ETH holdings by accumulating yield on staked funds. Clients can initiate staking directly from their Coinbase Prime accounts after creating a wallet and determining the quantity of ETH to be put up for staking.

As ETH transitions to Proof-of-Stake, validators staking ETH will effectively take over the role of miners in running the network. As such, staking will play a much more important role in Ethereum’s future and rewards from the process could considerably increase.

Earlier this year, Coinbase said it expects ETH staking yields to rise ahead of 9%-12% APR post the Merge. At press time, yield offered on staking pools had an average reward of 4.08%, as per data from StakingRewards.

Currently, Ethereum staking has a total market cap of $21.5 billion. In a report last year, JPMorgan Chase & Co. estimated that the post-Merge Ethereum 2.0 could create a $40 billion staking industry by the year 2025.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Slee49
2022-08-02
Slee49
OK
MSTAN
2022-08-02
MSTAN
👌👌
TeslaLegend
2022-08-02
TeslaLegend
Nice
Deonc
2022-08-02
Deonc
Good sharing
T202311701
2022-08-02
T202311701
Oo
hellodarz888
2022-08-02
hellodarz888
Need more revenue stream

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