VanEck has filed a registration application with the U.S. Securities and Exchange Commission (SEC). stETH Spot Exchange Traded Fund (ETF). This is the Lido Protocol’s Liquid Ether (ETH) staking token. If approved, it would be the first product of its kind to hit the market.
The fund, called the VanEck Lido Staked ETH ETF, is designed to provide investors with regulated exposure to Ethereum staking returns.
For ETF issuers, using a liquid asset like stETH optimizes management by eliminating the need to hold idle ETH to process redemptions.
This ETF follows the price fluctuations of stETH tokens accumulating staking profits.
Keane Gilbert of the Lido Foundation said: The request “demonstrates the growing recognition that liquid staking is an important part of the Ethereum infrastructure.”
The Lido protocol has a total of approximately $40 billion locked up, benefiting from audited smart contracts and abundant liquidity in the secondary market.
This effort comes in the wake of recent clarification from the SEC. Liquid staking activities do not fall under securities trading (Securities), as CriptoNoticias reported in August.
