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.
In the updated filing 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.”
In their Feb. 7 filing, the companies included a clause stating that 21Shares anticipated receiving ETH as a reward for staking and intended to classify the resulting earnings as income generated by the fund.
