Source: Cointelegraph Original: "{title}"
The SEC has delayed its decision on whether to approve Grayscale's two funds for Ethereum staking.
According to an announcement on April 14, the decision regarding the Grayscale Ethereum Trust ETF and the Grayscale Ethereum Mini Trust ETF has been postponed until June 1. The final decision deadline is set for the end of October.
On February 14, the New York Stock Exchange (NYSE) submitted a proposal rule change on behalf of Grayscale, allowing Grayscale's Ethereum ETF investors to stake their holdings.
Staking involves locking cryptocurrency in a wallet to support the operation and security of the blockchain network, for which stakers receive rewards. Since staking can generate returns for investors, it is considered a potential key component of the Ethereum ETF, enhancing the attractiveness of these funds.
The SEC announced the delay. Source: SEC
According to Coinbase, the annual yield for staking Ethereum is expected to be 2.4%, while on another U.S. exchange, Kraken, the yield ranges from 2% to 7%. According to Sosovalue, since its launch in 2024, the total net inflow for Ethereum ETFs has reached $2.28 billion.
The staking competition for Ethereum ETFs includes other asset management companies, including BlackRock's 21Shares iShares Ethereum Trust. The company applied for permission to offer staking services in February and is currently awaiting regulatory approval.
SEC approves options trading for multiple spot Ethereum ETFs
Despite the delay in the staking application decision, the SEC continues to move forward with regulatory requests related to crypto ETFs.
On April 9, the SEC approved options trading for multiple spot Ethereum ETFs, allowing BlackRock, Bitwise, and Grayscale's ETFs to offer derivative functionalities.
Options trading involves the rights to buy and sell contracts, allowing investors to choose to purchase an asset at a specific price without an obligation. This approval enhances the appeal of the funds to institutional investors.
Although Ethereum ETFs have not yet gained widespread adoption compared to Bitcoin ETFs (which have been available since January 2024), Ethereum ETFs are still striving to attract more investors. Sosovalue data shows that as of April 11, the total net inflow for Ethereum ETFs was $2 billion, while Bitcoin ETFs have seen inflows exceeding $35.4 billion.
Compared to other assets like Ripple (XRP) and Solana (SOL), Ethereum has performed relatively weakly in this bull market. Ethereum's 52-week high was $4,112, failing to break its all-time high of $4,866 from November 2021. As of April 14, Ethereum's price remains below the $2,000 mark.
Related: Reports indicate that Anchorage Digital is under review by the U.S. Department of Homeland Security.
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