Odaily Planet Daily News Investors are more cautious and divided before the launch of Ethereum ETFs in the United States, in stark contrast to the general enthusiasm before the launch of Bitcoin ETFs. A major concern for some investors is that the SEC has excluded the "staking" mechanism, a key feature on the Ethereum blockchain. Staking enables Ethereum users to earn rewards by locking up their ether to help protect the network. Rewards or returns come in the form of newly issued ether and part of the network transaction fees. Under the current structure, the SEC will only allow ETFs to hold regular, uncollateralized ether. "Institutional investors who pay attention to Ethereum know that staking can earn returns," said McClurg, an analyst at CoinShares. "It's like a bond manager saying, I'm going to buy a bond, but I don't want to earn interest, which runs counter to the original intention of buying a bond." McClurg believes that investors will continue to pledge Ethereum outside of the ETF and earn returns, rather than paying fees and holding Ethereum in the ETF. (Jinshi)

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