Figment, a leading staking infrastructure provider, has announced a remarkable fivefold year-over-year growth in the first quarter of 2024, with over $15 billion in assets staked from more than 500 institutional clients. This significant milestone comes on the heels of the launch of Ethereum and Solana staking ETPs on the SIX Swiss Exchange, in collaboration with Apex Group.
According to Figment CEO and co-founder Lorien Gabel, the company’s success can be attributed to its commitment to transparency, security, and compliance, which are essential for institutional clients navigating the complex blockchain landscape. Gabel emphasized that Figment’s mission is to guide clients through this uncharted territory, addressing their needs with trust, risk-adjusted rewards, and assurance.
Figment’s European Expansion
During the quarter, Figment established Figment Europe Ltd, a UK-based entity, further expanding its global reach after entering the Asia-Pacific region in 2023. The company also launched Ethereum and Solana staking ETPs on the SIX Swiss Exchange, offering institutions convenient access to staking rewards through traditional brokers or banks.
The Figment Ethereum Plus Staking Rewards (ETHF) and Figment Solana Plus Staking Rewards (SOLF) products are designed to provide institutions with a familiar ETP wrapper, allowing them to participate in staking rewards while minimizing risks. Ethereum and Solana were prioritized for the ETPs due to strong demand from Figment’s largest customers.
Growth Plans
Building on its Q1 success, Figment plans to accelerate growth by focusing on new product offerings, including Figment Vaults and Ethereum restaking capabilities. Figment Vaults aim to simplify institutional ether staking, enabling clients to stake any amount of ether while maintaining privacy and flexibility in choosing validator locations.
With its commitment to innovation, security, and compliance, Figment is well-positioned to continue its growth trajectory, supporting the evolving needs of institutional clients in the blockchain and staking ecosystem.
