A major asset manager just dropped a clever move — launching a separate staked ETH fund instead of jamming staking into their existing $2.4B product.

Why split it? Different investor appetites. Pension funds stuck with commodity mandates grab the plain vanilla version. Endowments hunting yields? They pile into the staking wrapper.

Same underlying asset. Two wrappers. Double the institutional capital pools unlocked.

Behind the scenes, a custody giant manages validators for both vehicles. Smart product design meets regulatory gymnastics.