According to ChainCatcher, Grayscale has deleted the pledge-related content in its proposed Ethereum spot ETF application, according to an amended preliminary proxy statement. In a previous document, Grayscale had proposed to investors that Ethereum could be pledged through the trust fund. But there is no such wording in the amended preliminary proxy statement submitted by Grayscale on Tuesday. Other issuers, including Fidelity, have taken similar measures.

In addition, according to documents from the U.S. Securities and Exchange Commission (SEC), Fidelity's updated version of the Ethereum spot ETF S-1 application submitted to the SEC shows that Fidelity has withdrawn its plan to pledge Ethereum (ETH) holdings in its proposed ETF.