🚨 Crypto Staking: The Great Ether Heist 🚨
As the sun sets over the bustling streets of Wall Street, a quiet revolution is brewing. Cboe BZX, the esteemed securities exchange, has submitted a filing to the US regulators, seeking permission to incorporate staking into Fidelity’s Ether exchange-traded fund (ETF). Ah, yes, the thrill of staking, where one can earn a paltry 3.3% APR, denominated in ETH, according to Staking Rewards. 🤑
But, alas, this is not the first attempt by Cboe to support staking for the Ether funds traded on its US exchange. No, no, my friends. This is merely the latest installment in a long series of proposed rule changes, each one more tantalizing than the last. 🤔
According to the filing, Cboe’s proposed rule change would allow Fidelity Ethereum Fund (FETH) to “stake, or cause to be staked, all or a portion of the Trust’s ether through one or more trusted staking providers.” Ah, the trust, the staking providers, the ether… it’s all so delightfully Byzantine. 🤯
The Fidelity Ethereum Fund, you see, is among the most popular Ether ETFs, with nearly $1 billion in assets under management, according to data from VettaFi. One can only imagine the thrill of watching one’s assets grow, like a slow-burning fire, fueled by the gentle warmth of staking. 🔥
But, of course, this is not just about the Fidelity Ethereum Fund. Oh no, this is about the grand tapestry of staking, where Solana (SOL) and other popular cryptocurrencies join in the fun. It’s a veritable staking party, and everyone’s invited! 🎉
Proposed rule changes
And so, we wait with bated breath as the US Securities and Exchange Commission must still approve Cboe’s proposed rule changes before staking can commence. Ah, the suspense is killing us! 😬
In February, the SEC acknowledged more than a dozen exchange filings related to cryptocurrency ETFs, according to records. Ah, yes, the SEC, once a bastion of skepticism, has softened its stance on crypto since US President Donald Trump started his second term on Jan. 20. The times, they are a-changin’! 🌎
Cboe, it seems, has been busy, submitting filings for a veritable smorgasbord of proposed rule changes, including options, in-kind redemptions, and new types of altcoin funds. Ah, the possibilities are endless! 🌈
And so, we wait, and we watch, as the great Ether heist unfolds before our very eyes. Will staking become the norm? Only time will tell, but one thing is certain: the thrill of the chase is upon us! 🎢
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2025-03-11 23:57