Fidelity amends spot Ethereum ETF to include staking | Headlines | News | CoinMarketCap
03/19/2024 05:49
Financial giant Fidelity has amended its spot ether ETF application to include provisions for staking the …
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Published on March 18, 2024 22:34 GMT+00:00edited on March 18, 2024 22:39 GMT+00:00
Financial giant Fidelity has amended its spot ether ETF application to include provisions for staking the cryptocurrency.
"According to the Registration Statement, the Sponsor may, from time to time, stake a portion of the Fund’s assets through one or more trusted staking providers, which may include an affiliate of the Sponsor ('Staking Providers')," the company wrote in an amendment to its filing on March 18. "In consideration for any staking activity in which the Fund may engage, the Fund would receive certain network rewards of ether tokens, which may be treated as income to the Fund as compensation for services provided."
The largest of such providers, Lido, currently has $35 billion worth of ether …