TL;DR
- BlackRock, Grayscale, and Bitwise have updated their forms with the SEC for their Ethereum ETFs, removing provisions related to staking.
- The Depository Trust and Clearing Corporation (DTCC) has listed VanEck’s Ether ETF under the symbol ETHV on its website.
- Bloomberg analysts have updated the approval odds of ETFs from 25% to 75%.
BlackRock, Grayscale, and Bitwise have filed updated forms with the SEC for their proposed Ethereum ETFs, removing provisions related to staking. This suggests an effort to avoid potential regulatory hurdles, as staking is considered a form of passive income in the crypto ecosystem.
The modified 19b-4 forms filed by these key market players removed any reference to ether staking by the trust, sponsor, or custodian. All ETF applicants have updated their proposals ahead of the highly anticipated SEC decision.
Staking involves locking certain cryptocurrencies for a set period to support blockchain operation and receive rewards in the form of passive income. However, its inclusion in proposed ETFs could have raised regulatory concerns, leading companies to remove such provisions from their forms.
Annualized yields for Ether staking were close to 3%, according to data from Lido, a popular staking service. It stands out in the market due to its significant potential as a source of passive income for crypto investors.
Potential Approval for Ethereum?
The Depository Trust and Clearing Corporation (DTCC) has listed VanEck’s Ether ETF under the symbol ETHV on its website, which some interpreted as a positive sign for ETF approval overall. The industry is closer to obtaining the necessary regulatory approval to launch the highly anticipated Ethereum financial product in the market.
Following the recent change in tone from the SEC regarding ETH ETFs, various speculations have emerged. Mainly, there is talk of potential higher-level political influences on decision-making. Bloomberg analysts have revised the approval odds of ETFs from 25% to 75%, leading to a surge in ETH and BTC prices in the market.
It seems that some financial giants are willing to make concessions with the SEC to ensure the ETFs’ market launch. Ethereum could be on the verge of a new stage in its history.
