Institutional staking infrastructure provider Figment witnessed record year-over-year growth in the first quarter of 2024 amid the launch of Ethereum and Solana staking ETPs, the firm says.

Figment generated fivefold growth in Q1 compared to the same period in 2023, passing $15 billion in staked assets under management from over 500 institutional clients, according to a statement shared with The Block.

"At Figment, we recognize the priorities of our customers, who are increasingly seeking trust, risk-adjusted rewards and assurance in navigating the complexities of the blockchain landscape,” Figment CEO and co-founder Lorien Gabel said.

“Figment’s foundation is built on these principles, and we take pride in guiding our customers through these uncharted waters and an ambiguous …