Europe's first pure stETH ETP is listed, starting at $50 million and directly connecting to Lido staking rewards.

[Chain News] The European market has welcomed another interesting product—WisdomTree’s newly launched fully staked Ethereum ETP, trading under the code LIST.

What’s the biggest feature of this product? It holds 100% stETH, meaning all Ethereum is staked through the Lido protocol. Unlike traditional ETPs that usually keep a portion of non-staked ETH as a buffer, this product goes all in with staked assets. For institutional investors who want to earn on-chain staking yields but don’t want to manage it themselves, this is a hassle-free option.

LIST is already listed on Deutsche Börse Xetra, Switzerland’s SIX, and the pan-European exchanges in Paris and Amsterdam. At launch, it had $50 million in assets under management, with a management fee of 0.50%—a fairly reasonable rate for traditional finance players compared to the costs of setting up their own staking infrastructure.

Essentially, this product packages the staking mechanism of DeFi into a compliant ETP, allowing funds restricted by internal risk controls and unable to directly access on-chain protocols to participate as well. The boundary between traditional finance and DeFi has blurred just a little more.