{"id":11734,"date":"2024-03-19T12:34:03","date_gmt":"2024-03-19T10:34:03","guid":{"rendered":"https:\/\/forklog.com\/en\/fidelity-incorporates-staking-in-spot-ethereum-etf-proposal\/"},"modified":"2024-03-19T12:34:03","modified_gmt":"2024-03-19T10:34:03","slug":"fidelity-incorporates-staking-in-spot-ethereum-etf-proposal","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/fidelity-incorporates-staking-in-spot-ethereum-etf-proposal\/","title":{"rendered":"Fidelity Incorporates Staking in Spot Ethereum ETF Proposal"},"content":{"rendered":"

Asset management firm Fidelity Investments has made amendments<\/a> to its proposal for launching an exchange-traded fund based on the spot price of Ethereum, including a provision for staking.<\/p>\n

\n

\u201cAccording to the registration statement, the sponsor may, from time to time, place a portion of the fund’s assets through one or more trusted staking providers, which may include an affiliate,\u201d the firm noted in the amendment.<\/p>\n<\/blockquote>\n

Locking assets is expected to yield \u201ccertain network rewards,\u201d the company added.<\/p>\n

The cumulative volume of Ethereum assets staked amounts to 31.68 million ETH ($0.99 billion), according to The Block<\/a>.<\/p>\n

\"Cumulative-ETH-Deposited-to-Beacon-Chain-and-Validators-Google-Chrome\"
Source: The Block.<\/figcaption><\/figure>\n

In terms of protocols, the liquid staking platform Lido holds a 30% market share. The centralized crypto exchange service Coinbase accounts for 14%.<\/p>\n

\"Ethereum-Staking-Lido-Coinbase-Kraken-Binance-RocketPool-Frax.-Google-Chrome-1\"
Source: Dune<\/a>.<\/figcaption><\/figure>\n

Analysts at S&P Global Ratings consider it unlikely<\/a> that Ethereum ETF issuers will choose a DeFi platform’s offering. They are more likely to opt for a licensed custodian like Coinbase. <\/p>\n

The largest American crypto exchange acts as a custodian for eight of the 11 approved<\/a> spot Bitcoin ETFs in the US. However, Fidelity uses its own subsidiary for these services. <\/p>\n

At the time of writing, the firm’s exchange product holds<\/a> approximately 132,570 BTC valued at around $8.9 billion.<\/p>\n

In early March, the US Securities and Exchange Commission (SEC) postponed its decision on spot Ethereum ETF applications from BlackRock and Fidelity.<\/p>\n

Following a request from senators to SEC Chairman Gary Gensler regarding the undesirability of expanding the range of exchange-traded crypto products, experts sharply lowered their expectations regarding the approval of new ether-based funds.<\/p>\n","protected":false},"excerpt":{"rendered":"

Asset management firm Fidelity Investments has made amendments to its proposal for launching an exchange-traded fund based on the spot price of Ethereum, including a provision for staking. \u201cAccording to the registration statement, the sponsor may, from time to time, place a portion of the fund’s assets through one or more trusted staking providers, which […]<\/p>\n","protected":false},"author":1,"featured_media":11733,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1289,569,46,1248],"class_list":["post-11734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-staking","tag-etf","tag-ethereum","tag-fidelity-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=11734"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11734\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/11733"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=11734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=11734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=11734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}