Odaily Planet Daily News Grayscale recently updated the ETHE disclosure document, pointing out that the trust fund cannot pledge its Ethereum holdings and obtain rewards, which may put the shares at a disadvantage relative to direct investment in Ethereum, thereby affecting its value. Grayscale stated that if staking is allowed in the future, it must first amend the trust agreement with the SEC and require NYSE Arca to apply for SEC rule changes. Under the leadership of SEC Chairman Gary Gensler, the SEC is cautious about Ethereum staking, believing that staking services may constitute securities issuance. Although the SEC is open to Ethereum spot ETFs, the issue of staking remains controversial. ETHE has long traded at a discount, and converting to an ETF structure may narrow this discount. (Decrypt)