Institutional trading desk Caladan has announced the integration of stETH as eligible collateral on its over-the-counter (OTC) platform, broadening the toolkit available to professional crypto market participants. The move, made possible through support from Lido Institutional, allows clients to use Ethereum’s liquid staking token for a range of trading purposes, including options execution, risk management, and capital efficiency strategies.
The addition marks a significant step toward bridging decentralized finance (DeFi) with institutional-grade infrastructure. By accepting stETH, which accrues staking rewards while remaining liquid, Caladan aims to offer institutions more flexible and yield-generating collateral options compared to traditional assets like fiat or stablecoins.
“This is about unlocking new capital pathways,” said Julia Zhou, COO of Caladan. “Instead of forcing institutional players to choose between yield and liquidity, we’re giving them both, as well as strategic optionality.”
The decision reflects a broader trend among crypto-native funds, decentralized asset managers, and DAO treasuries increasingly turning to stETH via Lido Institutional. This approach enables them to retain ETH exposure without the operational burden of validator management, while tapping into deep liquidity across on-chain and off-chain markets.
“Caladan’s integration shows why institutions are increasingly turning to stETH,” said Kean Gilbert, Head of Institutional Relations at the Lido Ecosystem Foundation. “They gain access to market-leading liquidity, Ethereum staking rewards, and decentralized infrastructure through the Lido protocol – all key ingredients for strategically deploying ETH holdings.”
Caladan’s support for stETH aligns with its broader mission to deliver capital-efficient trading infrastructure tailored to institutional needs. The integration enables clients to maintain exposure to Ethereum’s staking ecosystem while actively deploying assets within structured trading strategies.
By embedding a yield-bearing asset like stETH into the collateral layer of its OTC platform, Caladan is contributing to the maturation of institutional DeFi, where reward-generating assets are no longer siloed from risk-managed trading environments. The move reflects a growing convergence of traditional trading practices and decentralized capital markets.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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