There's a new player shaking up the staking game. One ETP is now exclusively backing itself with stETH straight from Lido's protocol—no middleman tokens, no fluff.

What's the angle? Investors get a direct line to Ethereum staking yields through a regulated wrapper. The kicker: it ditches those clunky unstaked reserves that traditional funds hoard for minting and burning shares. Leaner structure, tighter tracking. That's the pitch.