Many in the cryptocurrency market believe that key changes made to some applications of the proposed spot Ethereum ETF will benefit the Ethereum blockchain, but put future ETF offerings themselves at a disadvantage. Issuers, including Fidelity Investments and Ark Investment Management, have already scrapped their staking plans. The removal of the ETF staking plan did not surprise many observers, as regulators see Ethereum's underlying mechanism as similar to cryptocurrency lending.
Ayesha Kiani, chief operating officer of crypto hedge fund MNNC Group, said that at the moment, staking is seen more as a form of security because staked Ether can provide a yield. This is the best example of the intersection of decentralization and SEC standards. Owning Ether without staking the token means that the holder is not helping to secure the blockchain, which is a problem because it gives someone like Fidelity or VanEck a chance to contribute to the Ethereum network.
Market participants: Cancellation of staking on spot Ethereum ETFs could reduce the attractiveness of funds
2024-05-23 01:15:46
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