WisdomTree Launches Europe's First Fully Staked Ethereum ETP Holding Lido stETH

Source: ETHNews Original Title: WisdomTree Launches Europe’s First Fully Staked Ethereum ETP Holding Lido stETH Original Link: WisdomTree has introduced a major milestone for Ethereum investment products in Europe with the launch of the WisdomTree Physical Lido Staked Ether ETP (LIST).

The product, which went live on December 4, 2025, is the first European ETP backed entirely by Lido’s stETH, giving investors direct access to Ethereum staking rewards through a regulated exchange-traded instrument. LIST is now available on Deutsche Börse Xetra, SIX Swiss Exchange, and Euronext Paris and Amsterdam, marking a significant expansion of institutional-grade staking exposure.

A New Way to Access Ethereum Staking Rewards

LIST holds stETH, the liquid staking token issued by the Lido protocol that represents staked Ethereum. Investors gain transparent exposure to Ethereum’s underlying asset, as well as the on-chain staking rewards generated through Lido’s staking infrastructure. Unlike some other structured products, LIST does not use a non-staking buffer for deposits or redemptions. Instead, it is physically backed, meaning every unit of the ETP corresponds directly to underlying stETH.

The product launched with approximately $50 million in initial capital and applies a competitive 0.50% management fee, positioning it among the more cost-efficient staking ETPs currently available to European investors.

Understanding stETH and Lido’s Role in the Ethereum Ecosystem

Staked Ether (stETH) is the liquid token representing Ethereum deposited via Lido, by far the largest staking provider on the network. Lido enables users to stake ETH without the traditional lock-up periods or withdrawal delays, issuing a liquid token instead. This allows stETH holders to maintain exposure to staking rewards while still using their assets across decentralized finance applications. Rewards are added through a rebasing mechanism, which increases token balances over time.

Lido currently accounts for nearly one-quarter of all staked Ethereum, making it the dominant player in the liquid staking market and a critical part of Ethereum’s broader ecosystem.

Risks and Market Considerations

Although LIST expands institutional access to Ethereum’s reward-bearing assets, it introduces a set of risks investors must consider. The primary concern is the price divergence between stETH and ETH, which can widen during volatile market periods. Additionally, LIST inherits smart contract risk from the Lido protocol, alongside general cryptocurrency market volatility. These factors make LIST an innovative but still high-risk product designed for informed and experienced investors.

A Step Toward Bringing Staking to Mainstream Finance

WisdomTree’s fully staked Ethereum ETP represents another step in the ongoing integration of decentralized staking mechanisms with regulated financial infrastructure. By offering stETH exposure through exchanges already familiar to institutional and professional investors, the firm is helping bridge traditional markets with Ethereum’s on-chain economy.