WisdomTree has launched the WisdomTree Physical Lido Staked Ether ETP (LIST), the first European exchange-traded product backed entirely by Lido’s stETH. The ETP became available Thursday, Dec. 4, and is trading on Deutsche Börse Xetra, SIX Swiss Exchange, and Euronext Paris and Amsterdam.
LIST is physically backed — each unit corresponds directly to underlying stETH — and provides investors regulated exchange access to Ethereum staking rewards. The product launched with roughly $50 million in initial capital and charges a 0.50% management fee.
stETH is the liquid staking token issued by the Lido protocol that represents Ethereum deposited for staking. Lido, the largest staking provider on Ethereum, issues stETH to allow staking without traditional lock-up periods; rewards are delivered via a rebasing mechanism that increases token balances over time. Lido currently represents nearly one-quarter of all staked Ethereum.
WisdomTree cautions investors about key risks, including potential price divergence between stETH and ETH during volatile markets, smart contract risk associated with Lido, and general cryptocurrency market volatility. The company positions LIST for informed and experienced investors.
The launch highlights growing integration of decentralized staking services with regulated European financial infrastructure. In September, WisdomTree also introduced a private credit fund on the blockchain with a $25 minimum investment.
