Ethereum Staking Portfolio (ETHSP) is a non-custodial portfolio strategy that offers depositors exposure to the staking rewards and relative price volatility of a basket of Ethereum Liquid Staking Tokens (LSTs), categorized into two sub-portfolios.
ETHSP-A is a sub-portfolio containing two market-leading decentralized LSTs, wstETH and rETH.
ETHSP-B contains two marketing-leading centralized LSTs, cbETH and wBETH.
These two sub-portfolios are then traded in third portfolio, known as ETHSP, targeting a delta weight of 70/30, ETHSP-A to ETHSP-B.
Depositors assume the risk of one or more underlying assets temporarily or permanently drifting from its net-present-value (NPV) at time of deposit, and experience returns in the form of trading fees accrued during periods of price volatility and subsequent mean reversion, as well as staking rewards produced by the underlying assets.
For more information on risks, depositor rationale, and implementation, view the ETHSP Propsectus (opens in a new tab).