Investment firm VanEck has officially submitted a request to the U.S. Securities and Exchange Commission (SEC) to approve the launch of a new exchange-traded fund — the VanEck Lido Staked ETH ETF. This innovative product will provide institutional investors with access to stETH, a token that serves as a liquid equivalent of staked Ethereum through the Lido protocol.
This is reported by Business • Media
Features of the New VanEck ETF
The proposed ETF will hold stETH and leverage the advantages of smart contract technology, high liquidity in the secondary market, as well as integration with custodial services and cryptocurrency exchanges. Since the launch of Lido, users of the service have already received over $2 billion in rewards, and the total value of assets locked in this protocol exceeds $40 billion.
Recognition of Liquid Staking and the SEC’s Position
Kian Gilbert, Head of Institutional Relations at the Lido Ecosystem Foundation, emphasized the significance of the emergence of the stETH-based ETF, calling it a confirmation of the status of liquid staking as one of the key components of the Ethereum ecosystem. He also noted the combination of decentralization and institutional standards on the Lido platform.
“The emergence of the stETH-based ETF signifies the recognition of liquid staking as a key element of the Ethereum ecosystem. He noted that Lido combines decentralization with institutional standards.”
The press release highlights that the SEC has previously indicated that transactions involving liquid staking tokens, including their issuance, redemption, and trading, are not subject to regulation as securities if conducted within established technical and administrative procedures.
If approved, VanEck will become the first company in the U.S. to launch an ETF specifically tied to the stETH token.
It is worth noting that the TRUMP-ETF from Canary Capital has also recently appeared on the DTCC list.