Crrypto News: Coinbase and Figment Expand Institutional Staking Past Ethereum

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Coinbase and Figment expand staking on Coinbase Prime, adding Solana, Avalanche, Aptos, and Sui beyond Ethereum access.

 

Coinbase and institutional staking provider Figment have expanded their partnership. This is by enabling Coinbase Prime clients to stake multiple proof-of-stake (PoS) assets beyond Ethereum.

The development broadens institutional access to staking directly from Coinbase Custody, which may drive more engagement across additional blockchain networks.

Coinbase Prime Clients Gain Access to More PoS Assets

The updated integration enables institutional clients of Coinbase Prime to stake assets such as Solana (SOL), Avalanche (AVAX), Aptos (APT), and Sui (SUI) directly from their custody.

Figment’s staking infrastructure is now fully integrated, streamlining secure staking across these networks.

Coinbase Prime is a crypto prime brokerage offering trading, financing, and custody for over 440 digital assets. The expanded staking access allows institutions to manage their assets more efficiently while participating in network consensus mechanisms to earn yield.

Over $2 Billion Already Staked Through Partnership

Since the partnership began in 2023, over $2 billion worth of assets have been staked through Coinbase Prime using Figment’s infrastructure. Figment itself currently manages $18 billion in staked assets across more than 40 protocols, making it one of the largest staking providers in the market.

The new phase of integration further strengthens Figment’s role in serving institutional investors seeking exposure to various PoS networks. It also positions Coinbase Custody as a hub for secure and compliant staking at scale.

Regulatory Clarity Supports Growth of Institutional Staking

The announcement follows the U.S. SEC clarification that some liquid staking activities are not securities transactions. This decision has reduced uncertainty for staking products and services operating under similar models.

SEC Chair Paul Atkins commented that the ruling “clarifies the staff’s view about crypto asset activities that do not fall within SEC jurisdiction.” Moreover, asset managers such as VanEck, Bitwise, and Grayscale have welcomed the decision. This has accelerated the rollout of staking-enabled ETFs for Ethereum and Solana.

Staking ETFs Add to Institutional Demand

This integration comes shortly after the launch of the Bitwise Solana Staking ETF (BSOL) and Grayscale’s announcement to enable staking for its ETH and SOL funds. Grayscale recently staked $150 million worth of ETH as part of its broader strategy to offer staking rewards to investors.

The expanded access to staking through Coinbase and Figment may support growing demand for on-chain yield. Hence, platforms that provide direct and secure access to a range of assets are becoming more important in the crypto investment landscape.

The post Crrypto News: Coinbase and Figment Expand Institutional Staking Past Ethereum appeared first on Live Bitcoin News.

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