Hashnote Launches stETH Fund for Liquid Staking on Ethereum
Miami-based technology company Hashnote has introduced the stETH Fund, a regulated investment product that enables compliant participation in Ethereum’s liquid staking. The fund leverages the Lido platform to provide transparency and regulatory compliance to institutional clients. The demand for crypto investments, particularly in liquid staking on Ethereum, is growing among users who may not have the necessary skills to navigate decentralized finance. Hashnote’s stETH Fund aims to address this by offering reliability, compliance, safety, maximized earnings, and ease of use to investors. It is built on Lido, the leading decentralized liquid staking middleware.
The State of the Crypto LSD Market on Ethereum
Liquid staking platforms like Lido have seen significant growth since the launch of the “Shapella” update on Ethereum. These platforms currently hold over 12 million ETH locked on the beacon chain, accounting for approximately 42% of all Ether staked in Ethereum 2.0 contracts. Lido dominates this market niche with about 76% market share and has a total value locked (TVL) of $20.37 billion in its DeFi protocol. Other platforms such as RocketPool, Binance Staked ETH, and Frax Ether also hold a considerable percentage of ETH in liquid staking.
The success of these platforms can be attributed to their convenience, integration with other DeFi protocols, and potential airdrop rewards for users. The interest in this sector is evident from the TVL achieved by layer-2 Blast, which integrates Lido and MakerDAO and reached over $920 million. There are also several smaller platforms that have managed to cover a good percentage of all ETH locked in liquid staking.
Hot Take: The Rise of Liquid Staking on Ethereum
The launch of Hashnote’s stETH Fund and the increasing popularity of liquid staking platforms like Lido highlight the growing demand for crypto investments, particularly in Ethereum. These platforms offer transparency, compliance, safety, and maximized earnings to investors, making it easier for them to participate in liquid staking. With a significant percentage of ETH locked in liquid staking and the integration of liquid tokens with other DeFi protocols, users can earn a yield while holding their ETH and benefit from parallel liquidity for crypto exchanges. As the market continues to innovate, more investment options and potential airdrops are expected to emerge, providing further opportunities for investors.
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