ARK Invest and 21Shares have recently put forth a new proposal for a spot Ethereum exchange-traded fund (ETF). The major change in this revised proposal is the exclusion of staking.
Initially, the companies had planned to stake a portion of the ETF’s assets through trusted providers. However, the updated filing no longer includes this element.
According to Bloomberg ETF analyst Eric Balchunas, the removal of staking could have various implications. It may be an effort to align the proposal with SEC comments, which would be a positive development. On the other hand, it could also be a last-minute attempt to minimize the SEC’s reasons for rejecting the proposal, as there have been no comments from the SEC so far.