ARK Invest and 21Shares removed staking plans from their spot Ethereum ETF proposal, submitted on May 10, amid SEC delays and dwindling approval hopes.
Bloomberg ETF analyst Erich Balchunas suggests the update may be a response to potential SEC feedback despite no official comments.
ARK Invest and 21Shares removed their staking plans from their updated spot Ethereum ETF proposal, submitted on Friday, May 10.submitted on Friday, there is a noticeable absence of a clause stating that 21Shares would stake a portion of the fund’s assets through third-party providers. It said, “Sponsor may, from time to time, stake a portion of the Trust’s assets through one or more trusted Staking Providers.
Alternatively, Balchunas suggests that the change could be a last-ditch effort or a strategic move to limit the information available for the SEC to base a potential rejection on.for a spot Ether exchange-traded fund . The fund aims to provide direct exposure to Ether and will trade on the Cboe BZX Exchange. The exchange will utilize the CME CF Ether-Dollar Reference Rate – New York Variant.
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