Coinbase Prime offers Ethereum staking for US institutions

Coinbase Prime offers Ethereum staking for US institutions

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US-based crypto exchange Coinbase Global Inc COIN expands his ether ETH/USD Staking offering for domestic institutional clients.

What happened: in one blog entry On Monday, Coinbase said institutions can enjoy an end-to-end staking experience Coinbase Prime.

Staking offers institutions the opportunity to earn passive income from their ETH holdings by accumulating staking fund returns. Clients can initiate staking directly from their Coinbase Prime accounts after creating a wallet and determining the amount of ETH to be allocated for staking.

See also: Binance says it lost 90% of customers, “billions in revenue” due to KYC compliance

As ETH moves to proof-of-stake, validators staking ETH will effectively take on the role of miners in running the network. Therefore, staking will play a much more important role in Ethereum’s future and the rewards from the process could increase significantly.

Earlier this year, Coinbase said it expects ETH staking yields are rising before 9%-12% APR after the merger. At press time, the return on offer on staking pools had an average return of 4.08%, according to data from Staking Rewards.

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

Price promotion: According to data from Gasoline Pro, ETH was trading at $1,605, down 5.33% over 24 hours.

Continue reading: Cathie Wood Sells $75M in Coinbase Shares at Massive Losses After Long Being Bullish



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