Hold On To Your Hats! SEC Might Let You Stake Your ETH!

by

Well, now, folks, it seems the Cboe BZX Exchange is hankering after a piece of the staking action. They’ve gone and filed a request with the SEC, asking if they can let folks stake their Ethereum in their new-fangled ETF. Now, you might be sayin’, “Hold your horses, mister! Ain’t that a bit outlandish?” And you’d be right to think so. See, the SEC ain’t exactly been the biggest fan of staking in ETFs. They’ve been a-worried about things like securities laws and such. But, well, maybe the wind’s a-changin’ in Washington. Maybe they’re finally seein’ the light 💡.

Seems the 21Shares Core Ethereum ETF, certified just last year, couldn’t let you stake your ETH. But now, Cboe BZX is hopin’ to change that. They’re talkin’ about a “point-and-click” method for staking, which means they’ll be keepin’ your ETH right where it is, safe and sound. No need to go roamin’ around in the Wild West of crypto. You just click and you earn, simple as that. 🤠

Of course, this news caused a bit of a stir in the ol’ crypto market. Ethereum’s price jumped up like a grasshopper in a high wind, nearly 6%. The SEC’s gotta make their decision within 240 days, so we’ll just have to wait and see how this all shakes out. ⏳

Assuming this is acknowledged by the SEC (I’d probably make that assumption right now but you never know):

The final deadline on this filing will be somewhere around the end of October. Like October 30th-ish.

Will know more in next few weeks.

— James Seyffart (@JSeyff) February 12, 2025

If the SEC says “yes,” it could be a big deal for Ethereum. More folks might be inclined to invest in those ETFs, and Ethereum’s chances of becoming a long-term investment would get a whole lot better. But until then, we’ll just have to sit tight and see what happens. It’s a wild ride, folks, but that’s the beauty of it, ain’t it? 😂

Read More

2025-02-13 09:08