Laser Digital and NEAR Protocol Launch New Crypto Fund

Nomura’s digital assets subsidiary Laser Digital has launched a fund in alliance with Artificial Intelligence-focused blockchain NEAR Protocol. The debut of the Laser Digital NEAR Adoption Fund was announced on February 20, signaling a huge boost for both entities.

Institutional Investors Contribute to NEAR Blockchain Adoption 

This fund focuses on institutional adoption of NEAR and intends to provide institutional investors with long-term exposure to the NEAR token. It also offers a staking option that allows institutional investors in eligible regions to participate in the blockchain consensus mechanism. 

By participating in the staking, investors can earn rewards while supporting the growth and adoption of the NEAR blockchain. 

Ultimately, these entities benefit from the NEAR blockchain’s economic opportunities. To ensure that investors have seamless exposure to the NEAR token, the new project will leverage TruStake, the institutional-grade liquid staking solution provided by TruFin. 

Why Laser Digital Chose NEAR Protocol 

The decision to integrate with NEAR comes from acknowledging the protocol’s features and standout qualities, especially when there is a “paradigm shift towards AI-first interfaces and businesses.” 

Jez Mohideen-led Laser Digital highlighted NEAR’s intentional positioning at the forefront of the AI-first future.

NEAR boasts of core technologies that effectively link Artificial Intelligence and Web3. Speaking of the new Fund, Mohideen said,

“The Fund gives Investors a seamless way to gain exposure to digital assets through a long orientated exposure to the NEAR protocol that combines two major investment themes of digital assets and AI, alongside a carry overlay via the staking.”

Staking Trend in the Crypto Market 

Generally, staking is gaining ground amongst institutional clients across different blockchains. Investment asset management firm Grayscale is pushing to provide staking services to its institutional clients. The New York Stock Exchange (NYSE) has submitted a filing to the U.S. Securities and Exchange Commission (SEC) on its behalf.

It is seeking approval to incorporate staking into its spot Ethereum ETFs. Should this pull through, Grayscale’s Ethereum Trust ETF (ETHE) and Ethereum Mini Trust ETF (ETH) would be able to generate an additional yield from staked Ether. This comes a few weeks after Ethereum co-founder Joe Lubin noted that staked Ether ETFs could soon gain regulatory approval.