Financial giant Fidelity has amended its application for a spot ethereum ETF to include provisions for staking.
– According to the Registration Statement, the sponsor may, from time to time, invest a portion of the fund’s assets through one or more trusted staking providers – the company wrote in its application amendment.
The largest of such providers, Lido, currently has ethereum worth $35 billion under staking.
Since the approval of the spot bitcoin ETF in January, Fidelity has accumulated around 132,570 bitcoins, valued at over nine billion dollars.
Staking refers to the process of actively participating in the validation of transactions on the blockchain and consequently earning rewards/yields. Therefore, a multi-billion dollar player like Fidelity could conceivably change the ecosystem of ethereum itself.
