Fidelity Drops Staking Plans in Updated Ether ETF Filing.

Annual returns on ether bets were nearly 3% on Tuesday, data from popular betting service Lido showed.

S-1 update filed with the US. The Securities and Exchange Commission indicated Tuesday morning that Fidelity has dropped plans to stake ether (ETH) holdings in a proposed spot exchange-traded fund (ETF).

In an earlier filing, the company said it intended to “risk a portion of the trust assets” with “one or more” infrastructure providers. However, it clearly stated in Tuesday's update that it would "not stake any ether" held with the custodian.

Staking is the process of locking up a particular cryptocurrency for a certain period of time to help support the operation of the blockchain, in turn, for rewards. These rewards are mostly considered passive income among crypto traders.

Data from popular betting service Lido shows that the annual return on ether bets was nearly 3% as of Tuesday.

CoinDesk reported Monday that the U.S. The Securities and Exchange Commission (SEC) asked prospective ether exchange-traded funds to update their 19b-4 filings before this week's key deadline - raising expectations for ETH ETFs.