According to Blockworks, Japanese investment bank Nomura's crypto-focused subsidiary and Laser Digital are launching two new crypto funds that will pass along staking rewards to investors. The Polygon Adoption Fund by Laser Digital will hold TruMATIC, the liquid staking token received for depositing MATIC into the TruStake vault. TruMATIC is a reward-bearing ERC-20 token, which increases in value as MATIC staking rewards accrue. The TruStake vault has posted a MATIC yield of about 5% annual percent yield in the last nine months, according to Laser Digital.
The Polygon Adoption Fund uses the Polygon AggLayer, designed to connect zero-knowledge technology-enabled layer-1 or layer-2 blockchains for cross-chain transactions almost instantly. Sebastien Guglietta, head of Laser Digital Asset Management, said the company aims to 'transform DeFi investment opportunities into investable [traditional finance] solutions.' The fund will initially be available to institutional investors in the United Kingdom.
Laser Digital's launch coincides with the introduction of another staking rewards investment option by 21Shares, the world's largest issuer of crypto ETPs. The 21Shares Toncoin Staking ETP, set to start trading on the SIX Swiss Exchange, offers a 'hassle-free gateway to staking rewards within the blockchain ecosystem,' according to 21Shares co-founder Ophelia Snyder. The estimated staking reward rate for TON, the native currency of the TON network, is about 4.1%.