Fidelity Files to Add Staking, Quarterly Payouts to Its Near-$900M Ether ETF
Fidelity has filed with the U.S. Securities and Exchange Commission to add staking to its ether exchange-traded fund, according to CoinDesk. The fund, which holds close to $900 million in assets, is known as FETH, according to Cointelegraph.
Under the proposed structure, Fidelity would retain 85% of the staking rewards generated by the fund’s ether holdings, according to Cointelegraph. The remaining rewards would be passed on to investors through quarterly cash distributions, Cointelegraph reported.
The filing follows a broader push among asset managers to bring staking yield into regulated fund wrappers, according to CoinDesk. Staking involves locking up ether to help validate transactions on the Ethereum network in exchange for rewards, income that spot ETFs have so far been unable to pass through to shareholders without regulatory approval.
Details on the timeline for SEC review or approval were not specified in the filing, according to CoinDesk.
Sources: CoinDesk, Cointelegraph
This article is for information only and is not financial advice.
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