Grayscale, Fidelity's latest Ethereum spot ETF application has removed the pledge plan

According to a revised preliminary prospectus, Grayscale has removed the pledge-related content in its proposed Ethereum spot ETF application. In a previous document, Grayscale had proposed to investors that they could pledge Ethereum through this trust fund. However, this wording was not included in the preliminary proxy statement submitted by Grayscale on Tuesday. Other issuers including Fidelity have also taken similar actions.

In addition, according to documents from the U.S. Securities and Exchange Commission (SEC), an updated version of Fidelity's Ethereum spot ETF S-1 application submitted to the SEC shows that Fidelity has withdrawn plans to pledge Ethereum (ETH) holdings in its proposed ETF.