The United States Securities and Exchange Commission (SEC) has delayed a decision on whether to approve ether staking on two Grayscale funds.
The decision on Grayscale Ethereum Trust ETF and Grayscale Ethereum Mini Trust ETF is that -Post to June 1, according In an April 14th announcement from Sec. The deadline for a decision is the end of October.
In Feb. 14, the New York Stock Exchange (NYSE) filed a proposed rule change On behalf of the Grayscale that will allow investors to the company’s ether (Eth) ETFs to stop their holdings.
Staking is the cryptocurrency processing process in a purse to support the operations and security of a blockchain network, which offers stakers’ rewards in return. This feature is considered a potential integral part of the ETF ETF, as it can produce yield to investors, increasing the attractiveness of funds.
Sec’s announcement about the delay. Source: Sec
The annual harvest in the staked ether is estimated at 2.4% in Coinbase, while in Kraken, another US -based exchange, ranges from 2% to 7%. According to Sosovalue, ETFs have had A combined -joint net inflow of $ 2.28 billion since launched in 2024.
The race for staking in Ether ETF includes other manager owners, including Blackrock’s 21shares Ethereum. The company Ask for permission to offer staking Services in February and is currently waiting for the agency’s approval.
SEC has approved options for many ETF areas
Despite the delay in staking filings, the SEC is advancing regulatory requests surrounding Crypto ETFs.
On April 9, the agency Approved trading options for many ETFs of the ETER spotallowing the feature to derivates the funds from Blackrock ‘, Bitwise and Grayscale’s ETF.
Trading options It involves the right to buy and sell contracts that give investors correctly but not the obligation to buy an asset at a certain price. Approval has expanded the fund utility for institutional investors.
Efforts to expand the appeal of Ether ETF reflects the lack of adoption in contrast to Bitcoin (Btc) Launched ETFs in January 2024. While Ether ETF has gathered a net cumulative inflow of $ 2.2 billion to April 11, Bitcoin funds flow to $ 35.4 billion According to In Sosovalue.
Ether also has a rough time in the bull market compared to other possessions such as XRP (XRP) and Solana (Sol). The 52-week high of $ 4,112 did not exceed the November 2021 climax at a full time high value of $ 4,866. The token traded below a $ 2,000 mark on April 14th.
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