As institutional investors look for ways to grow crypto holdings without converting performance back into fiat terms, Sygnum is introducing a new ether-focused investment product. The ETH Alpha Fund SP opens to qualified and professional investors in approved markets, including Switzerland, and aims to generate returns in ETH rather than dollars.
Highlights
- Sygnum launches the ETH Alpha Fund SP, a market-neutral fund targeting 8% to 10% annual returns in ETH, net of fees, opening Nov. 2, 2026.
- The fund employs ETH staking, options premiums, cross-venue arbitrage, and derivatives strategies, focusing on institutional investors measuring portfolio growth in ether terms.
- Ethereum staking reaches 43.8 million ETH (36% of supply) by September's end, while annualized staking yields drop to 2.63% amid stable institutional demand.
Fund structure and launch timeline
As reported by The Block, Sygnum has launched the ETH Alpha Fund SP as a market-neutral strategy for professional investors, targeting annual returns of 8% to 10% in ETH, net of fees.The fund combines native ETH staking with options premiums, cross-venue arbitrage, and derivatives carry and funding strategies. Gains and losses are realized in ETH, reflecting a structure aimed at institutions that measure portfolio growth in ether terms rather than in fiat currency.
Markus Hammerli, head of asset management and ETH Alpha Fund lead at Sygnum, says long-term institutional holders increasingly assess performance by whether they finish the year with more ETH. He says the fund is built around that approach, adding in-kind income strategies to staking within a regulated structure.
The fund opens to investors on Nov. 2, 2026, and is available to qualified and professional investors in approved markets, including Switzerland. Institutions can also access ETH exposure through spot ether ETFs.
Staking trends shape institutional demand
Ethereum staking reaches 43.8 million ETH, or nearly 36% of total supply, by the end of September, while average annualized staking yields decline to 2.63%. Those figures point to a larger staking base even as direct yield levels come down.Thomas Brunner, Sygnum Bank's head of custody and staking, says in an interview that demand for ETH staking remains supported by long-term conviction among holders. He says almost no one is un-staking, while noting that the entry queue reflects operational processing as much as investor demand.
As a reminder, we previously covered how India’s disinvestment proceeds were driven mainly by market-based deals rather than strategic sales.
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