BNY Adds Institutional Staking Through Figment Partnership
BNY will bring ETH staking to eligible clients through its custody platform, using validator infrastructure supplied by Figment.
BNY will bring ETH staking to eligible clients through its custody platform, using validator infrastructure supplied by Figment. Ethereum (ETH) is trading at $2,013.17, up 0.9% since this brief published. This is an original TLT brief based on reporting by Crypto Economy, with live market data added, as of Thu, 12 Nov 2026 23:30:06 UTC.
The partnership integrates institutional staking into an established custody workflow rather than requiring a separate service. Its initial focus on ETH, with SOL planned for a later phase, gives eligible banking clients a new route to participate in proof-of-stake rewards.
- BNY and Figment partnered to add institutional staking to BNY’s custody platform.
- Eligible clients will initially stake ETH; Solana support is expected later.
- Figment will supply the underlying validator infrastructure.
- ETH traded at $1,994.94, down 2.85% over 24 hours.
BNY has partnered with Figment to introduce staking for eligible institutional clients through its Digital Asset Custody platform. The arrangement is intended to give banking clients access to staking rewards without moving beyond the custody workflow they already use, according to Crypto Economy’s coverage of the announcement.
Figment’s role is to supply the validator infrastructure underpinning the institutional staking service, The Block reports. The initial asset is 
Ethereum, with clients expected to stake ETH and generate rewards through the platform. Crypto Economy also says 
Solana is expected to gain support later, making ETH the first stage of the planned rollout rather than the only asset in the broader initiative.
The two outlets corroborate the central elements of the development: the BNY-Figment partnership, the addition of staking to BNY’s existing custody offering, the institutional client focus and Figment’s infrastructure role. Their main difference is scope detail. Crypto Economy identifies ETH as the launch asset, notes the planned addition of SOL and describes the reward workflow, while The Block concentrates on how validator infrastructure will support the service.
The announcement comes as both assets targeted by the rollout are trading lower. Ethereum is down 2.85% over 24 hours and 16.08% over seven days, while Solana is down 3.72% and 14.89% over the respective periods. That price backdrop does not change the stated mechanics of the partnership, but it places the introduction of institutional staking against a broader decline in the digital-asset market.
The total crypto market capitalization is $2.45 trillion, with the overall market broadly lower and the Fear & Greed index at 28, indicating a Fear reading. For eligible institutions, the immediate distinction is the integration of staking into an established custody service rather than a standalone product. The initial ETH scope and the reported expectation of later SOL availability are the clearest markers for the rollout, while actual client access and the timing of broader support remain the next implementation details to watch.
Since this brief published about 8 hours ago, Ethereum (ETH) has moved from $1,994.94 to $2,013.17 — +0.91%.
The chart plots ETH's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 ETH ≈ ₦2.83M (about $2,013.17), down 1.5% over 24 hours. The naira itself trades about 4.2% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
BNY Adds Institutional Staking Through Figment Partnership — questions & answers
What assets will BNY clients be able to stake?
Crypto Economy reports that ETH will be supported initially and that Solana is expected to be added later.
What role does Figment play in BNY’s staking service?
Figment will provide the validator infrastructure that supports institutional staking through BNY’s Digital Asset Custody platform.
How are Ethereum and Solana performing?
ETH is at $1,994.94, down 2.85% over 24 hours, while SOL is at $80.74, down 3.72%.
How much is 1 Ethereum worth in naira today?
About ₦2.83M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $2,013.17. The naira price moves with both ETH's US-dollar price and the USDT/NGN rate; use our Ethereum in naira page for any amount.
Has Ethereum's price moved since this brief was published?
ETH is up 0.91% since this brief first published — trading at $2,013.17 now versus $1,994.94 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Crypto Economy. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.