Following Fidelity's lead, Grayscale looks to add staking for its proposed Ethereum ETF

Grayscale Investments is looking to add staking to its proposed spot Ethereum ETF, according to a statement filed on Tuesday.

Grayscale Investments is looking to add staking to its proposed spot Ethereum exchange-traded fund, according to a preliminary proxy statement filed on Tuesday.

"The Sponsor believes that having the ability to cause the Trust to stake the Ethereum held by the Trust in exchange for consideration would allow the Trust to mitigate inflationary pressures resulting from Ethereum’s proof-of-stake protocol and thereby preserve the value of the Trust Estate for the ultimate benefit of ETHE’s shareholders, and also would position the Trust to maintain parity with any similarly situated investment products that provide for the staking of Ethereum," the...

Grayscale filed a Form 19b-4 alongside NYSE Arca in October to convert the Grayscale Ethereum trust to a spot ether ETF. Grayscale has also previously filed to convert its Grayscale Bitcoin trust to a spot bitcoin ETF, which it did successfully after a court victory and eventual approval from the SEC in January. Though the SEC approved spot bitcoin ETFs in January, the road to approval for an ether-backed product doesn't seem likely.

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