Institutional staking provider Figment has expanded its integration with Coinbase, allowing the exchange’s institutional clients to stake a broader range of proof-of-stake (PoS) assets directly from Coinbase Custody — a move that could drive adoption beyond Ethereum.

Through the integration, Coinbase Prime customers can now use Figment’s staking infrastructure to access additional PoS networks, including Solana (SOL), Sui (SUI), Aptos (APT), Avalanche (AVAX) and others, the companies announced Tuesday.

The partnership, which began in 2023, has already facilitated more than $2 billion in staked assets through Coinbase Prime.

Coinbase Prime serves institutional investors with a full-service crypto prime brokerage, offering trading, financing and custody for over 440 digital assets across dozens of blockchains.

Figment currently has $18 billion in assets under stake across more than 40 protocols. 

Related: Coinbase stock surges after JPMorgan upgrade of Base, USDC potential

Crypto ETFs come to the US

The announcement follows the launch of several staking-focused exchange-traded funds (ETFs) in the US this month, including the Bitwise Solana Staking ETF (BSOL), which offers exposure to Solana staking.

Grayscale has also announced plans to introduce staking for its Ethereum and Solana products. Earlier this month, the asset manager staked $150 million worth of Ether (ETH) as part of its effort to enable investors to earn staking rewards from their holdings.

These developments come just months after the US Securities and Exchange Commission (SEC) determined that certain liquid staking activities do not constitute securities transactions, placing them outside the agency’s jurisdiction. 

Before that ruling, asset managers including VanEck, Bitwise and Jito Labs had urged the securities regulator to clarify its stance and approve liquid staking mechanisms for Solana-based ETFs.

SEC Chair Paul Atkins said the decree marked a “significant step forward in clarifying the staff’s view about crypto asset activities that do not fall within the SEC’s jurisdiction.” 

Related: SEC ends ‘regulation through enforcement,’ calls tokenization ‘innovation’