Microsoft's increasing interest in cryptocurrency investments has sparked speculation about the possibility that the company will launch an Ethereum spot ETF soon after the staking feature is activated.
The discussion stemmed from remarks made by Microsoft CFO Amy Hood at the company's annual shareholder meeting. Although shareholders rejected a proposal to use Bitcoin (BTC) as a treasury asset, Hood's comments highlighted Microsoft's openness to exploring digital assets.
In the meeting, Hood shared that Microsoft began accepting cryptocurrency payments back in 2014 and is still evaluating the potential of cryptocurrency as an asset. She also emphasized that the company focuses on investment criteria including liquidity, capital preservation, and income generation to ensure sustainability in its financial strategy.
Hood explained that Microsoft's treasury team, in collaboration with the board, is evaluating all available asset types, with the top priority being capital preservation, maintaining liquidity to support operations and partnerships, while also generating income.
Matthew Sigel, head of digital asset research at VanEck, noted that Hood's comments could be a sign that Microsoft may consider investing in Ethereum-related products, especially those that leverage staking features.
He believes that Microsoft's focus on profitability aligns with the potential of staking-supported ETFs, helping to generate rewards through participation in Ethereum's PoS network. Sigel also stated that yield-generating assets would be more easily aligned with the company's investment strategy.
"The board has been and will continue to evaluate digital assets to supplement the reserves."
Currently, Ethereum ETFs in the United States do not include staking features, primarily due to regulatory uncertainty surrounding staking services and the SEC's classification. However, analysts believe that the regulator's attitude may change under the upcoming Trump administration, with potential changes in SEC leadership.
Supporters of Ethereum ETFs that support staking argue that combining staking rewards will make these products more attractive, thanks to reduced management fees and the creation of additional income. These advancements could allow Ethereum ETF funds to compete directly with Bitcoin ETFs, which currently dominate the crypto investment market.
ETF Store President Nate Geraci also agrees with this view, stating that integrating staking into Ethereum ETFs is just a "matter of time, not a question of whether it will happen."
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