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CCData and Blockdaemon add ETH, the Largest PoS Asset to Expanding, Industry-First Staking Yield Index Family
The ETH Index joins a family of digital asset indices that include Cardano, Solana, Avalanche, Cosmos, and Polkadot
London, Los Angeles – May 9, 2023 – CCData (formerly CryptoCompare), the leading digital asset data provider and FCA-authorised benchmark administrator, in partnership with Blockdaemon, the global leader in institutional-grade blockchain infrastructure for node management and staking, today announced the expansion of their recently launched Staking Yield Index Family. The family of indices, all industry firsts, now feature Ethereum, the largest Proof-of-Stake asset by market capitalisation.
Calculated daily, the rewards featured in the six CCData Blockdaemon Staking Yield Indices integrate various factors including block rewards, token emissions, fees, protocol penalties, withdrawals, and more.
Each index utilises staking data from the entire blockchain universe. Covering 100% of network validators, the indices aggregate information from every validation period on a daily basis. This process enables the Index to deliver an accurate average daily annualized yield for users.
The newly added index tracks Ethereum, which accounts for over 50% of TVL out of Proof of Stake blockchains. Data from the Ethereum Staking Yield Index reports that ETH has a year-to-date average yield of 4.7%.
Traditional index products previously overlooked millions of dollars staked across the digital asset ecosystem. The CCData Blockdaemon Staking Yield Index Family introduces a groundbreaking solution to the limitations of traditional index products, enabling investors to securely access staking rewards generated by the underlying blockchains. This approach not only strengthens and secures the underlying blockchain network but also creates new opportunities in the digital asset investment landscape.
"The Staking Yield Index Family has established an innovative benchmark for digital asset investment options, addressing the constraints experienced by conventional indices that fail to account for staking rewards generated by the underlying cryptocurrency," stated Charles Hayter, CEO and Co-Founder of CCData. "The addition of Ethereum into the index family is a crucial step as we look to enhance accessibility for institutional investors operating in the digital asset landscape."
The indices empower investors with daily reports that can help refine investment strategies and capture digital asset annualised staking rewards through a regulated and secure index product. This innovative development facilitates the creation of total return and reward swap products, benchmark portfolios, research initiatives, and more.
“Blockdaemon has been instrumental in building advanced institutional investment products using proven blockchain infrastructure since 2017. We firmly believe that blockchain powered financial infrastructure is the future of the industry, and are proud to be working alongside CCData and others to help deliver products that fundamentally transform how the world conducts finance,” said Konstantin Richter, CEO and Founder of Blockdaemon.
The CCData Blockdaemon Staking Yield Index Family utilises CCData’s proprietary yield calculation methodology specifically tailored for select proof-of-stake digital assets. Each highlighted cryptocurrency boasts its own distinct yield calculation methodology and implementation. Further details on the methodology can be accessed here.
The family of indices, including the new Ethereum Index, are available to all institutional investors on a subscription basis.
The CCData Blockdaemon Staking Yield Index Family includes:
CCData Blockdaemon Ethereum Staking Yield Index
CCData Blockdaemon Cardano Staking Yield Index
CCData Blockdaemon Solana Staking Yield Index
CCData Blockdaemon Avalanche Staking Yield Index
CCData Blockdaemon Cosmos Staking Yield Index
CCData Blockdaemon Polkadot Staking Yield Index