Fidelity Investments has made changes to its ethereum exchange-traded fund (ETF) filing by excluding all staking features that were previously included. This comes after reports that ETF issuers were instructed to revise their filings with the U.S. Securities and Exchange Commission (SEC). Fidelity’s revised proposal, updated on May 21, removes any mention of using underlying ether for staking. Ark Invest had already made a similar amendment to its proposal the previous week. Gabor Gurbacs, Vaneck’s strategy advisor, commented that other issuers are likely to follow suit. It is believed that the SEC may classify staked ethereum as a cryptocurrency security, which some individuals welcomed as it prevents ETFs from having excessive voting power over the ETH network.
