According to a recent filing, Fidelity aims to stake a portion of the ETF’s assets through reputable staking providers, possibly including its own affiliates. Fidelity Investment has revised its application for a spot Ether ETF to include terms that allow for bitcoin staking.
Making this change would allow the fund to collect Ether tokens in exchange for confirming transactions on Ethereum’s proof-of-stake blockchain. With huge firms like Lido already investing more than $35 billion in Ether, Fidelity’s presence might have a significant impact on the staking market.
The corporation has now gathered more than $9 billion in Bitcoin for the spot BTC ETF, which was approved in January. Its entry into Ether staking demonstrates the growing institutional willingness to participate in blockchain networks in ways other than simply keeping Bitcoin.
