Key Takeaways
- • Interactive Brokers (Nasdaq: IBKR) launched cryptocurrency staking for eligible clients, allowing them to earn rewards on supported digital assets through its unified platform, with staking services provided by zerohash.
- • At launch, eligible Interactive Brokers LLC clients can stake Ethereum via the Staking Dashboard in the Client Portal, where they can submit stake or unstake requests and monitor pending activity.
- • Rewards are credited as additional staked cryptocurrency and can compound while the position remains staked, according to the company announcement.
- • The company positions staking as analogous to its Stock Yield Enhancement Program, with CEO Milan Galik stating the goal is for clients to earn more from assets they hold.
- • IBKR cites crypto commissions starting at 0.12% to 0.18% of trade value with a USD 1.75 minimum per order, and access to 20 supported digital assets.
Summary
At launch, eligible Interactive Brokers LLC clients can stake Ethereum through the Staking Dashboard in the IBKR Client Portal. Clients can submit stake or unstake requests and monitor pending activity there. Rewards, when earned, are credited as additional staked cryptocurrency and can compound while the position remains staked.
Chief Executive Officer Milan Galik compared the feature to the firm's Stock Yield Enhancement Program, which allows clients to earn additional income on shares they own. "Similar to how our Stock Yield Enhancement Program allows clients to earn additional income on shares they own, staking gives clients an opportunity to earn rewards on the cryptocurrency they own," Galik said. "We want clients to earn more from the assets they hold."
The staking launch extends the firm's existing crypto offering. The company states it charges up to 85% less than competitors to trade crypto, with commissions starting at 0.12% to 0.18% of trade value, a USD 1.75 minimum per order, and no added spreads, markups or custody fees. Clients can trade 20 supported digital assets, including Bitcoin, Ethereum, Solana, Ripple, Cardano and Dogecoin. The firm also supports stablecoin funding using USDC, RLUSD and PYUSD, and allows transfers of supported assets to and from custodial and non-custodial wallets.
The company noted that availability varies by affiliate and client country of residence, and warned that digital asset trading is especially risky and suited only to individuals with high risk tolerance and the financial ability to sustain losses.
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