According to CoinDesk, Fidelity aims to give traders of its potential Fidelity Ethereum Fund the ability to stake some of the assets. The asset manager filed to launch an ethereum exchange-traded fund (ETF) in November, with other potential issuers including BlackRock, Ark Invest, and Grayscale. In an amendment with the U.S. Securities and Exchange Commission (SEC), Fidelity wrote that it may stake a portion of the Fund's assets through one or more trusted staking providers, which may include an affiliate of the Sponsor.

Following the news, Lido, the staking protocol supported on the Ethereum network, saw a 9% increase in price to $2.64 before falling back slightly. However, experts currently see a slim chance that such an ETF will be approved by the SEC before the next deadline of May 23.