$ETH PRICE UPDATE
This news can BOOM #eth
The U.S. Securities and Exchange Commission (SEC) is reviewing proposals to enable staking on Ethereum ETFs, which could potentially allow these funds to generate revenue by earning yield. Here's an update on the status.
- *SEC Review*: The SEC has acknowledged a proposal from Cboe Global Markets to enable staking on the 21Shares Core Ethereum ETF. Although it's not a guarantee of approval, it's a positive step forward.
- *Grayscale's Proposal*: The SEC delayed its decision on Grayscale's request to enable staking in its Ethereum ETFs, with a new review date set for June 1, 2025, and a final deadline in October 2025.
- *BlackRock's Advocacy*: BlackRock, in a private meeting with the SEC, advocated for staking to boost Ethereum ETF yield potential, describing it as a "step change upward."
- *Potential Impact*: If approved, Ethereum ETF staking could enhance institutional crypto adoption, provide traditional investors with passive ETH income, and increase the attractiveness of Ethereum-based products.
- *Challenges*: The SEC needs to address investor protection concerns, slashing risks, liquidity issues, and whether staking programs constitute investment contracts.
Some notable details about Ethereum and related ETFs include.
- *Ethereum Price*: ETH is currently trading at $3,692.95, with a 1.64% increase in the last 24 hours.
- *Ethereum ETFs*: U.S. spot Ethereum ETFs hold $112.59 billion in net assets, with the 21Shares Core Ethereum ETF being one of the smallest funds by cumulative net inflows and net assets.
- *Staking Rewards*: Annual staking rewards on ETH range between 2% and 7%, depending on the platform, with Coinbase advertising 2.37% and Kraken offering 2.5% to 7%.
👉Follow us to stay updated.
