Financial giant Fidelity has amended its spot ether ETF application to include provisions for cryptocurrency staking.
The largest of these providers, Lido, currently has $35 billion worth of ether blocked.
Since its spot Bitcoin ETF was approved in January, Fidelity has accumulated approximately 132,570 bitcoins, worth more than $9 billion, in assets for its first spot cryptocurrency exchange-traded product.
Staking This is where we actively participate in the validation of transactions on a proof-of-stake (PoS) blockchain such as Ethereum ETH
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About the Author
Lawrence Lewisinn is North America editor at The Block. Lewitinn brings extensive experience as a financial journalist, with stints at CoinDesk, CNBC, TheStreet, Yahoo Finance, the Observer and Modern Consensus. His career also includes years on Wall Street, where he traded fixed income, currencies and commodities for Millennium Management and MQS Capital. Lewitinn is an alumnus of New York University and holds an MBA from Columbia Business School, as well as a master’s degree in international affairs from Columbia’s School of International and Public Affairs. He holds the CFA.