Fidelity amends spot Ethereum ETF to include staking
Financial giant Fidelity has amended its spot ether ETF application to include provisions for staking the cryptocurrency. “The Sponsor may, from time to time, stake a portion of the Fund’s assets through one or more trusted staking providers,” the company wrote in an amendment to its ETF application on Monday.
Staking is where one actively participates in transaction validation on a proof-of-stake (PoS) blockchain such as Ethereum ETH -3.61% and earns rewards. Thus, a multi-billion dollar player such as Fidelity staking ether could conceivably change the ecosystem of Ethereum itself.
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