Vaneck has taken an early step towards the launch of a stacked Ethereum Exchange-Traded Fund (ETF) by registering a statutory confidence in the product in Delaware, a public filing dated October 2 shows.
The proposed product called Vaneck Lido stack ethereum ETF would give investors exposure to ether It is stacked through Lido, a decentralized protocol that allows users to serve to stage rewards without unlocking assets.
Registration of confidence is a procedural first move and does not yet represent a formal ETF application at Securities and Exchange Commission (SEC).
Lido Dominadtes Ethereum Staking, with approx. $ 38 billion Eth-Prevent one-third of all stacked ether-in the moment locked in the protocol. It is a key player in Ethereum’s proof-of-stake system that allows users to earn benefits from their tokens while keeping them fluid via the derivat-tokens called Steth.
In traditional financing conditions, ETF would act as a fund that has interest -bearing assets, but instead of bonds or cash, it would contain stack ETH. This structure would open up crypto for institutional investors who prefer the ETF wrapping while the technical barrier by sitting directly.
Lido’s government, LDO, has risen more than 3% over the last 24 hours.
If approved, Vaneck’s product could be the first stacked ETH in the United States, adding a new layer to the growing competition among issuers running to launch crypto -based foundations.
