While retail investors are the main buyers of Bitcoin, the latest 13F reports show that hedge funds, pension funds and banks are also investing in spot Bitcoin ETFs. The most well-known buyers are hedge funds such as Millennium Management, as well as Steven Cohen's Point72 Asset Management and Elliott Investment Management. Millennium Management even holds at least four spot Bitcoin ETFs, with a total value of about $2 billion.
Ethereum prices have risen by about 20% in the past three days as people are increasingly optimistic that the U.S. Securities and Exchange Commission will approve at least one spot Ethereum ETFTF before the deadline.
However, staking has always been a hot issue for Ethereum because it allows holders to continuously obtain returns, which raises questions: Should the token be considered a security within the purview of the SEC? Some market participants believe that if ETFs do not stake the Ethereum they hold, then these funds will be less attractive to investors than buying Ethereum directly in the cryptocurrency market.
Brian Rudick, senior strategist at digital asset firm GSR, said, "Holding Ethereum through an ETF will immediately incur an opportunity cost by giving up staking rewards."
At the same time, however, many industry advocates believe that eliminating staking plans by ETF issuers is actually a good thing for the industry because the industry's goal is to build a decentralized financial system rather than relying on a few intermediaries.
Leo Mizuhara, founder of Hashnote, an asset management company for decentralized financial institutions, said, "Staking Ethereum as part of the ETF may become a huge centralizing force. For example, due to the spot Bitcoin ETF, Coinbase currently has a very large amount of Bitcoin in custody, and something similar may happen to Ethereum staking."
However, some people expect ETF issuers to eventually get regulatory clarity to stake Ethereum. Ryan Watkins, co-founder of Syncracy Capital, said:
"I don't think this will last forever. As regulation becomes clearer in the next few years, these ETFs will eventually feature staking because the incentives are too tempting."
Beware of buying news and selling facts?Citi: Don’t panic!
Ethereum prices have risen by about 20% in the past three days as people are increasingly optimistic that the U.S. Securities and Exchange Commission will approve at least one spot Ethereum ETFTF before the deadline.
However, staking has always been a hot issue for Ethereum because it allows holders to continuously obtain returns, which raises questions: Should the token be considered a security within the purview of the SEC? Some market participants believe that if ETFs do not stake the Ethereum they hold, then these funds will be less attractive to investors than buying Ethereum directly in the cryptocurrency market.
Brian Rudick, senior strategist at digital asset firm GSR, said, "Holding Ethereum through an ETF will immediately incur an opportunity cost by giving up staking rewards."
At the same time, however, many industry advocates believe that eliminating staking plans by ETF issuers is actually a good thing for the industry because the industry's goal is to build a decentralized financial system rather than relying on a few intermediaries.
Leo Mizuhara, founder of Hashnote, an asset management company for decentralized financial institutions, said, "Staking Ethereum as part of the ETF may become a huge centralizing force. For example, due to the spot Bitcoin ETF, Coinbase currently has a very large amount of Bitcoin in custody, and something similar may happen to Ethereum staking."
However, some people expect ETF issuers to eventually get regulatory clarity to stake Ethereum. Ryan Watkins, co-founder of Syncracy Capital, said:
"I don't think this will last forever. As regulation becomes clearer in the next few years, these ETFs will eventually feature staking because the incentives are too tempting."
Beware of buying news and selling facts?Citi: Don’t panic!