Anchorage Digital Launches Institutional Ethereum Staking

Cryptocurrency storage company Anchorage Digital will allow institutional investors to stake the second-largest cryptocurrency Ethereum (ETH).

On June 28, Anchorage Digital announced the launch of an Ethereum staking service for institutional businesses that can help them earn ETH-linked rewards.

Anchorage Digital will keep funds safe for institutions including banks, venture capital firms, and even governments by depositing their crypto assets into cold wallets. This is a form of crypto that will be stored offline, as opposed to being deposited into an online wallet.

Diogo Monica, Founder, and President of Anchorage Digital stated:

“By paving the way for institutions to stake their Ethereum, we’re providing heightened legitimacy to market-tested assets—and in the process, eliminating any hot wallet risks for institutions looking to generate new earnings from crypto.”

Anchorage’s launch of Ethereum staking service comes as the world’s largest blockchain with total lockout value (TVL) is getting very close to the long-awaited The Merge process, in which it finally will complete a move from PoW to PoS. Right now, Ethereum is in the process of slowly becoming a PoS blockchain.

San Francisco-based Anchorage obtained a federal bank charter in 2021. The move by the Office of the Comptroller of the Currency—part of the Treasury Department that helps regulate national banks—was the first in the U.S. allowing a digital asset bank to receive a federal bank charter.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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