Fidelity Updates its Ethereum ETF Application
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Fidelity has updated its request for a spot Ether ETF to include the option for staking the cryptocurrency.
The company stated that it may entrust a portion of the Fund’s assets to chosen staking providers, potentially including one of its affiliates.
In return, the Fund would receive Ether tokens as network rewards, which would be counted as income for the services rendered.
The most significant of these providers is Lido, which currently holds $35 billion worth of locked Ether.
Fidelity has already accumulated over $9 billion worth of bitcoin for its spot cryptocurrency exchange-traded product, which was approved in January.
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