Vaneck has taken an early step towards the launch of an Ethereum Exchange Fund (ETF) is recorded by registering a legal trust for the product in Delaware, shows a public presentation dated October 2.
The proposed product, called Vaneck Lido Etherum ETF, ETF, would give investors exposure to Ether That is bet on Lido, a decentralized protocol that allows users to obtain betting rewards without locking the assets themselves.
Registering the trust is a first procedure movement and does not yet represent a formal ETF application with the stock and values ​​commission (SEC).
Lido Domadtes Ethereum Staking, with approximately $ 38 billion in ETH, approximately one third of all states, currently blocked in the protocol. He is a key player in the Ethereum stagnation test system, which allows users to obtain performance in their tokens while keeping them liquids through derived tokens called Steth.
In traditional financial terms, the ETF would operate as a fund that has interest assets, but instead of bond or effective, ETH would remain. This structure would open crypto to institutional investors who prefer the ETF wrapper, while eliminating the technical barrier of the rethinking directly.
The Lido governance sheet, Ldo, increases more than 3% in the last 24 hours.
If approved, Vaneck’s product could be the first ETH ETH in the United States, adding a new layer to the growing competition between the emitters than the careers to launch cryptography based funds.
