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Home»ADOPTION NEWS»Grayscale Removes Staking Proposal From Spot Ethereum ETF Submission
ADOPTION NEWS

Grayscale Removes Staking Proposal From Spot Ethereum ETF Submission

By Crypto FlexsMay 22, 20242 Mins Read
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Grayscale Removes Staking Proposal From Spot Ethereum ETF Submission
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Posted 1 minute ago In ~

Grayscale Investments has withdrawn its staking proposal for a proposed spot ether exchange-traded fund, according to an amended preliminary proxy statement.

previously filing, Grayscale offered investors the ability to stake their Ether with trust. That language was not included in the preliminary proxy for the amendment. name Submitted Tuesday for Grayscale Ethereum ETH

+2.14%
trust.

“The primary purpose of Amendment 2 is to remove Proposition 2 from the preliminary proxy statement,” Grayscale said in a filing Tuesday.

Other issuers have also removed the staking component from their spot Ethereum ETF applications. fidelity It brought up the possibility of receiving compensation in its S-1 registration statement earlier Tuesday.

Bloomberg ETF analyst James Seyffart said Grayscale’s move was expected.

“It looks like Grayscale is removing the staking language when submitting $ETHE for conversion to an ETF (this was expected),” Seyffart said. post At X.

Grayscale filed Form 19b-4 with NYSE Arca in October. switch Grayscale Ethereum is a trust for spot ether ETF. Grayscale also previously filed to convert the Grayscale Bitcoin Trust into an in-kind Bitcoin ETF, which it successfully converted after a court ruling. Victory And it will receive final approval from the SEC in January.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Sarah is a reporter for The Block covering policy, regulation and legal events. Sarah was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.

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