June 28 (Cointime) - Canadian digital asset manager 3iQ has announced that its two Ethereum exchange-traded fund (ETF) products, The Ether Fund and The 3iQ Ether ETF, will offer staking to clients starting in August. This will make them the first ETFs in the world to offer such a service.

Staking involves "locking-up" cryptocurrency to keep a blockchain's network running and those who hold proof-of-stake assets can receive rewards for doing so. 3iQ will use Coinbase's institutional staking infrastructure to support ETH staking in the products. The ETFs are listed on the Toronto Stock Exchange and are therefore only available to Canadian investors.