Grayscale Ethereum Trust (ETHE) was recently converted to ETF format with approximately $811 million in outflows. At the same time, new ETFs from companies like BlackRock attracted nearly $800 million in deposits in the first two days, satisfying issuers.
The success of the new ETFs was not guaranteed, especially given the decision by many issuers not to include staking features. Some initially planned to offer staking, but the US Securities and Exchange Commission (SEC) recommended eliminating this, arguing that staking could be considered an unregistered offering of securities.
Fidelity's Cynthia Lo Bessette emphasized the importance of staking to the Ethereum ecosystem and expressed hope that future regulatory changes will allow staking to be included in ETFs. Nate Geraci of ETF Store noted that staking in spot ETH ETFs is likely in the future, but the timing depends on political factors.
Franklin Templeton also decided to go without staking to simplify the approval process. The company's Christopher Jensen pointed out that it's easier to start with uncovered ETFs.
The inclusion of staking in future ETFs will depend on regulatory developments. Franklin Templeton's David Mann said the industry is poised to adapt as regulation improves.
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