The price of LDO jumped briefly after an updated spot Ether ETF application from Fidelity which proposed to stake “a portion” of the fund’s ETH to generate additional income.
Financial services giant Fidelity is seeking permission to stake a portion of the Ether (ETH) held by its proposed spot Ether exchange-traded fund (ETF), to provide investors with additional income.
In a 19b-4 amendment filed to the United States Securities and Exchange Commission on March 18, Fidelity wrote that if the ETF were to be approved, the fund would stake an undisclosed amount of its assets through one or more trusted staking providers.
“The Sponsor may, from time to time, stake a portion of the Fund’s assets through one or more trusted staking providers, which may include an affiliate of the Sponsor (“Staking Providers”),” wrote Fidelity in its amended application.
