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BitMEX Launches Crypto’s First-Ever ETH Staking Yield Swap, ETHYLD

Published date:
February 2, 2026
Chiagoziem Bede Ikwueze
Written by:
Chiagoziem Bede Ikwueze
Reviewed by:
Radica Maneva
BitMEX Launches Crypto’s First-Ever ETH Staking Yield Swap, ETHYLD
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Cryptocurrencies can be volatile and high risk. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn more about our Editorial Process and Risk Warning.

Crypto exchange, BitMEX, has launched crypto’s first Ethereum staking yield swap, ETHYLD. This means users can now hedge and speculate on daily ETH staking rates with up to two times leverage. 

Announcing this in a Twitter post, BitMEX stated ETHYLD is now on the exchange, and traders can now bet on the daily value of staking rewards on the Ethereum exchange. 

Ethereum Yield (ETHYLD) is an Ethereum staking yield swap that enables users or traders to swap the variable yields that come from staking Ethereum on Lido (floating rate) for a fixed interest rate (fixed rate). This can also be done the other way around. 

The Ethereum staking yield is now the number of tokens paid to validators for running the blockchain. Lido Finance is the liquid staking solution that enables immediate access to this liquidity using its derivative token. 



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According to a statement by BitMEX, 

“Like all crypto derivative contracts on BitMEX, it is possible for ETHYLD traders to take a leveraged position (i.e., trade ETHYLD with up to 2x leverage). In addition, traders can also hold a position as long as they allocate enough margin to satisfy the maintenance margin requirement – once this is not the case, the trader will get liquidated.”

BitMEX stated there are two sides to an ETHYLD swap. This means that during the life of an ETHYLD contract, two interest rates are being swapped each day. The first is the floating rate based on the variable yield emanating from the Lido Finance validator pool.

For each staked ETH, users are issued stETH, and each day at 12:00UTC,  a rebase happens where staking rewards are accumulated in the balance of stETH held in a wallet. The fixed rate is the trader’s best guess of the average daily ETH staking yield. 

BitMEX stated the significant difference between ETHYLD and other crypto derivatives’ listing is that traders pay or receive the fixed rate on  ETHYLD contracts rather than buy or sell. 

BitMEX
Ethereum
Ethereum Staking
Lido
Ethereum Validator

How we reviewed this article

All Bitcompare articles go through a rigorous review process before publication. Learn more about our Editorial Process and Risk Warning.

Chiagoziem Bede Ikwueze
Written by:
Chiagoziem Bede Ikwueze
Writer

Chiagoziem has gathered a wealth of experience, having worked for many prominent crypto-based businesses, including Revain, Whiteboard Crypto, DeRev, The Crypto Cartel, Crypto News, MoneySwitch, Full Value Dan, and Bitcompare. Over the past couple of years, his works have been featured in many publications and places. When he is not writing, he spends time working on his other digital businesses, playing video games, reading books, watching movies, and most importantly, enjoying quality time with loved ones.

About the Author

Chiagoziem has gathered a wealth of experience, having worked for many prominent crypto-based businesses, including Revain, Whiteboard Crypto, DeRev, The Crypto Cartel, Crypto News, MoneySwitch, Full Value Dan, and Bitcompare. Over the past couple of years, his works have been featured in many publications and places. When he is not writing, he spends time working on his other digital businesses, playing video games, reading books, watching movies, and most importantly, enjoying quality time with loved ones.

About the Author
Radica Maneva
Reviewed by:
Radica Maneva
Senior Editor

Radica is a Senior Editor at Bitcompare. She has worked for more than a decade at leading publications as an Editor across various industries, including crypto and finance.

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