Figment Scales Coinbase Prime Staking as 2 ETFs With Yield Launch This Week

Core Insights - Figment is expanding its staking infrastructure integration with Coinbase Prime, enhancing institutional access to staking across various Proof-of-Stake networks without removing assets from custody [1] - The launch of several spot crypto exchange-traded funds (ETFs) with staking features on the New York Stock Exchange indicates a growing institutional interest in yield generation from digital assets [1] Group 1: Partnership and Integration - Coinbase Prime initially partnered with Figment in early 2024 to facilitate Ethereum staking, resulting in over $2 billion in staked assets, including support for Grayscale's ETH exchange-traded product [2] - The expanded integration now supports a broader range of PoS networks, including Solana, Avalanche, Cosmos, Polkadot, and NEAR, allowing clients to stake assets directly while maintaining custody with Coinbase [3] Group 2: Market Demand and Impact - The shift in institutional demand towards yield-generating digital assets necessitates streamlined access to staking, as stated by Figment's CEO, emphasizing the importance of secure and scalable solutions [4] - The partnership enhances validator diversity, addressing concerns related to large-scale staking operations, with Figment claiming over $18 billion in assets under stake, positioning itself as the largest non-custodial staking provider for Ethereum and Solana [4]