Fidelity Removes Staking from its Ethereum ETF Application

Fidelity has revised its Form S-1 filing for an Ethereum-based spot ETF and removed the clause regarding staking.

Previous filings had mentioned the intention to lock a portion of the trust’s assets with infrastructure providers, but the new filing clarifies that Fidelity will not engage in Ethereum staking.

This move follows similar decisions by companies like ARK Invest and 21Shares. With this update, the situation regarding staking in exchange-traded funds has become clearer.

Stock analyst Eric Balchunas noted that this amendment is the first to reflect the SEC’s 180-degree turn on staking and its comments to ETF issuers.

On May 20, it was reported that the regulator had requested companies to update their Form 19b-4 in applications for launching the tool.