Anchorage launches Ethereum staking for institutional investors
Anchorage's new service comes in anticipation of the Ethereum network’s long-promised shift proof-of-stake consensus. Anchorage Digital, a San-Francisco-based digital platform that owns the first federally chartered crypto bank, will open an option to stake the Ethereum (ETH) for institutions. This move comes in anticipation of the Ethereum network’s long-promised shift from proof-of-work (PoW) to proof-of-stake (PoS) protocol. Anchorage announced on Tuesday its intention to introduce ETH staking — a practice of earning rewards for serving as a transaction validator in the Ethereum blockchain — for institutions. Diogo Mónica, co-founder and president of Anchorage Digital, called staking a win-win for institutional investors and the ecosystem: “By paving the way for institutions to stake their Ethereum, we’re providing heightened legitimacy to market-tested assets–and in the process, eliminating any hot wallet risks for institutions looking to generate new earnings from crypto....