Fidelity Investment has amended its application for a spot Ether ETF to include provisions for staking the cryptocurrency.
According to a recent filing, Fidelity plans to stake a portion of the ETF’s assets through trusted staking providers, potentially including its own affiliates.
This move would allow the fund to earn Ether tokens as rewards for validating transactions on Ethereum’s proof-of-stake blockchain. With major players like Lido already staking over $35 billion in Ether, Fidelity’s entry could significantly impact the staking landscape.
The firm has already amassed over $9 billion in Bitcoin for its spot BTC ETF approved in January. Its foray into Ether staking underscores the growing institutional interest in actively participating in blockchain networks beyond just holding cryptocurrencies.
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Read More: Fidelity Adds Ether Staking to Spot Ethereum ETF Plans