US Institutional Investors Can Now Stake ETH On Coinbase

Ethereum’s Vitalik Buterin Claps Back At PoS Skeptics Ahead Of The Merge

As The Merge approaches and the community anticipates its advent, confident investors have taken to staking their ETH tokens, awaiting rewards upon The Merge. Coinbase has announced that institutional investors in the US will now have the opportunity to join the bandwagon on its institution-targeted platform.

US institutional clients can initiate ETH staking on their Coinbase Prime accounts

In an official announcement on August 1, the American exchange revealed it would launch ETH staking in the US on its Coinbase Prime platform – the division tailored explicitly for institutional investors. US institutions that wish to will be able to yield interest from staking their ETH tokens.

“Clients can create a wallet, decide how much to stake, and initiate staking from the ETH asset page on their Coinbase Prime account,” the blog post said. Coinbase further assured clients of the security of their staked ETH and yields earned – a disclosure which has recently become necessary, considering recent events within the space.

According to Coinbase, the staked ETH tokens will have the ticker “ETH2” on the platform since the values of both ETH and ETH2 tokens would be the same. Following the imminent Merge, all tokens will be identified with the original “ETH” ticker.

There are currently about 13.8M staked ETH tokens

Besides ETH, institutional investors using Coinbase Prime also have the chance to stake a wide range of other crypto assets for yield generation, including Solana (SOL), Polkadot (DOT) and Tezos (XTZ), among others.

Staking on a proof-of-stake chain is equivalent to mining on a proof-of-work chain – stakers have the opportunity to participate in transaction validation on the PoS blockchain and earn yields for their efforts. This also helps secure the network.

Ethereum proponents have the opportunity to deposit 32 ETH in the staking pool to assume validator status as The Merge approaches. Although it is possible to stake less ETH, 32 ETH is the minimum required to actuate one’s own validator software.

At the time of writing, there are about 13,876,398 ETH tokens staked, representing 11% of ETH’s total circulating supply of 121M tokens. The total number of independent validators is 411,587. These values are expected to rise as most crypto institutional investors are concentrated in the US.


Share on facebook
Share on twitter
Share on pinterest
Share on linkedin

Follow Us

Most Popular

Get The Latest Updates

Subscribe To Our Weekly Newsletter

No spam, notifications only about new products, updates.
On Key

Related Posts

Bitcoin Poised For Recovery, Relief Summer still In Play?

Bitcoin has been able to make a resurgence in recent weeks. The 25,000 USD barrier was recaptured by Bitcoin prices just two days ago, marking the first time since June 13th. Bitcoin Poised For New Rally In June, Bitcoin had its largest monthly decline since 2011, falling over 37.3% to a final value of $19,925.

Expert Reveals How “Fake Supply” Is Killing Your Bitcoin Gains

Caitlin Long, the founder and CEO of Custodia Bank, reveals that the BTC price should have hit somewhere close to six figures in the previous cycle. In an interview with Robert Breedlove’s “What Is Money” podcast, Long reveals that “paper bitcoin” has created a fake supply of BTC. The 21 Million Trap Bitcoin’s limited supply

Selling Bitcoin In Fear Of Mt. Gox dump? Here’s What Expert Suggests

Mt. Gox, a Japan based cryptocurrency exchange lost around 850,000 Bitcoins in an alleged hack back in 2014. It has been reported that the creditors will begin to receive some of the stolen assets. However, this event has raised vital concerns regarding the price stability of Bitcoin. Creditor to choose Bitcoin’s fate? As per reports,

Soneva’s Luxury Resorts Now Accept Crypto Payments

Luxury resort chain Soneva has reportedly begun accepting cryptocurrency payments at its resorts in the Maldives and Thailand. “Accepting cryptocurrencies as a payment method is another example of enabling our international guests to easily make payments from anywhere in the world.” Soneva Accepts Cryptocurrency Payments Luxury resort chain Soneva has reportedly begun accepting payments in