CoinShares FTX Physical Staked Solana

The world’s first physically-backed Exchange Traded Product (ETP) providing exposure to the Solana network’s native asset SOL, with a reduced Management Fee of 0.0% p.a. and additional Staking Rewards of 3.0% p.a.*

*Learn more in the Staking Rewards section below

Product Info

CoinShares FTX Physical Staked Solana | SLNC

Underlying AssetSolana (SOL)
Base CurrencyUSD
Management feeReduced to 0.0% p.a.
Staking Reward3.0% p.a.
Bloomberg CodeSLNC
Securities LendingNo
ISINGB00BNRRFY34
Leverage FactorN/A
Coin Entitlement (CE)0.1 SOL at launch
Price per securityCoin Entitlement (CE) x SOL price
DomicileJersey
Replication methodPhysical
Legal structureDebt Security (ETP)
UCITS EligibleYes *UCITS eligibility varies by jurisdiction. Please contact CoinShares if you would like to discuss.
UK Reporting Fund StatusPending
Underlying Asset VerificationArmanino LLP (TrustExplorer)
CustodianKomainu (Jersey) Limited
Staking AgentCoinShares Capital Markets (Jersey) Limited
AdministratorJTC Fund Solutions (Jersey) Limited
TrusteeThe Law Debenture Trust Corporation p.l.c.
AuditorBaker Tilly Channel Islands Limited
IssuerCoinShares Digital Securities Limited
RegistrarComputershare Investor Services (Jersey) Ltd
CountryExchangeTrading CurrencyBloomberg CodeISINSEDOLWKNListing Date
GermanyBörse XetraEURSLNC GRGB00BNRRFY34BNRRFY3A3GXNS23/03/2022

CoinShares Physical ETP Structure

  1. Investor places buy order for ETPs with a Broker
  2. Broker either sources existing inventory or asks Liquidity Provider to apply for new ETPs
  3. Liquidity Provider purchases cryptocurrency in the crypto markets for delivery to the Issuer
  4. Liquidity Provider then sends cryptocurrency to the Issuer’s custodian
  5. Only after cryptocurrency has been received, Issuer delivers ETPs to Liquidity Provider
  6. Liquidity Provider settles securities with Broker and Investor receives those ETPs in exchange for the cash
  1. Investor places sell order with a Broker
  2. Broker sells ETPs to Liquidity Provider for cash
  3. Liquidity Provider delivers ETPs to Issuer
  4. Only after the ETPs have been delivered, Issuer delivers relevant amount of cryptocurrency to Liquidity Provider
  5. Liquidity Provider either holds or sells cryptocurrency for cash in the crypto markets
Staking Rewards

Proof of stake blockchains like Solana work differently to proof of work blockchains like Bitcoin. In simple terms, adding new blocks to the blockchain requires existing holders to 'stake' their cryptocurrency. In return for staking, they are rewarded with cryptocurrency from that same blockchain.

CoinShares' Staked ETPs are built to allow the Issuer to share staking rewards with investors in two ways:

  • The Issuer can reduce the management fee;
  • The Issuer can also increase the Coin Entitlement of the ETP each day, as staking awards accrue.

For CoinShares FTX Physical Staked Solana, the Issuer will share staking rewards as follows:

ProductManagement FeeStaking Reward
CoinShares FTX Physical Staked SolanaReduced to 0.0% p.a.3.0% p.a. (accrues daily)

Note that staked coins do not move from the secure custodian where they are stored, and the ETP remains 100% physically backed at all times.

How To Invest

Platforms

CoinShares FTX Physical Staked Solana (SLNC) can be bought and sold in the same way as shares or funds. You can invest in SLNC via your existing investment platform or broker:

  • Search for SLNC, CoinShares FTX Physical Staked Solana, or GB00BNRRFY34 on your investment platform
  • Input the number or value of securities you wish to buy or sell
  • Place the order

Institutions

Our Authorised Offerors are Flow Traders B.V., Jane Street Financial Limited, CoinShares (Jersey) Limited, Bluefin Europe LLP, Goldenberg Hehmeyer LLP & DRW Europe B.V.


Our Capital Markets desk has decades of experience in traditional securities trading, and has also crucially been trading in spot and derivative crypto markets since 2014.


Institutions can contact us to discuss efficient execution, or for unique & direct insight into the digital asset ecosystem.


+31 207 996 777
[email protected]

+44 (0) 203 787 3333
[email protected]

+44 (0) 207 282 0965

[email protected]

+44 (0) 2073903301

[email protected]

+44 (0) 207 469 2500

[email protected]

+44 (0)1534 513 111

FAQs

  • An Exchange Traded Product (ETP) is a financial instrument traded on a stock exchange, like shares. They can provide investors with exposure to a huge variety of investments, such as equities, commodities, fixed income, and cryptocurrencies, and can often be purchased through tax-efficient wrappers.

    Similar to shares, ETPs can be bought and sold whenever the stock exchange is open as prices are quoted throughout the day, and can often be purchased through tax-efficient wrappers.
  • Every share of the ETP is ‘physically backed’ by an amount of cryptocurrency, which is securely stored with a custodian. You can see how much cryptocurrency is backing your shares by checking the daily Coin Entitlement figure (i.e. how much cryptocurrency each Security entitles the holder to).


  • CoinShares is Europe’s largest digital asset ETP provider with billions of dollars in assets under management for clients across the continent.


    We pioneered the first regulated bitcoin fund in 2014, and are solely focused on cryptocurrencies and digital assets.


  • CoinShares FTX Physical Staked Solana is listed on Börse Xetra in Germany.


  • The risk factors relating to the underlying cryptocurrencies are outlined in the Risk Factors section of the Prospectus.
  • ETPs provide exposure to a wide range of asset classes and indices that can be difficult or costly to access directly, whilst trading through the same brokers and platforms as shares.

    Similar to shares, ETPs can be bought and sold whenever the stock exchange is open as prices are quoted throughout the day, and can often be purchased through tax-efficient wrappers.

Contact

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Users must accept these Terms & Conditions before they can proceed to access the information in this sub-site of the CoinShares website (“Website”). These Terms & Conditions are in addition to the Disclaimer for the CoinShares website which can be accessed here. By proceeding to access the information contained, referred or linked to in this Website, users shall be deemed to have represented and warranted that the applicable laws and regulations of their relevant jurisdiction allow them to do so. The issuer of the products is CoinShares Digital Securities Limited.

The information contained in this Website is intended exclusively for per se professional investors located in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Netherlands, Norway, Poland, Spain, Sweden and Switzerland, as such terms are defined in the Markets in Financial Instruments Directive, or an equivalent in any jurisdiction outside the European Economic Area. This Website is not an offer to sell or the solicitation of an offer to buy any investment in any jurisdiction where it is illegal to do so. Nothing in this Website constitutes (nor should be relied upon) as investment advice.

Nothing in this Website is advice on the merits of any product or investment, nothing constitutes investment, legal, tax or any other advice nor is it to be relied on in making an investment decision. Investors should obtain independent investment advice and inform themselves as to applicable legal requirements, exchange control regulations and taxes in their jurisdiction.

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The information provided on this Website is not directed to any United States person or any person in the United States, any state thereof, or any of its territories or possessions.

It should, in particular, be noted that the Exchange Traded Products (ETPs) referenced on this Website have not been, and will not be, registered under the Securities Act 1933, as amended of the United States (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States and may include securities in bearer form that are subject to United States tax law requirements. Such ETPs may not be offered, sold or (in the case of bearer securities) delivered within the United States or to, or for the account or benefit of, US persons, except pursuant to offers and sales in an offshore transaction that occurs outside the United States in accordance with the applicable provisions of Rule 903 of Regulation S under the Securities Act or pursuant to another available exemption from the registration requirements under the Securities Act.

Prospectus

An investment in the products may only be made based on the prospectus, the Final Terms and the Key Information Document and will be subject to the terms and conditions contained within. A copy of the current prospectus, the Final Terms and the Key Information Document are available on this Website.

Risk Warnings

Investors should always bear in mind that:

  • Cryptoassets are a highly volatile asset class. Your capital is at risk. The value of cryptoassets can go down as well as up and you can lose your entire investment.
  • Past performance is not an indication of future performance.
  • Exchange rate fluctuations may affect the value of investments.

Investors should refer to the section entitled “Risk Factors” in the prospectus for further details of these and other risks associated with an investment in the products before investing.

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