Ethereum News Today: Ethereum ETFs Race to Stake, Trim Fees as SEC Delays Approval
The U.S. EthereumETH-- ETF landscape is evolving rapidly as new filings and regulatory developments hint at potential staking features and aggressive fee reductions. The Securities and Exchange Commission (SEC) has delayed its decision on staking approvals for Grayscale's Ethereum Trust ETF and Ethereum Mini Trust ETF until June 1, 2025, despite a final deadline of October 2025[1]. This delay follows a New York Stock Exchange (NYSE) filing in February 2025 proposing rule changes to allow investors in Grayscale's Ether (ETH) ETFs to stake their holdings[1]. Staking, which involves locking ETHETH-- to support blockchain operations and earn rewards, is seen as a critical feature to enhance ETF attractiveness by generating yield for investors[1]. Annual staking yields on platforms like Coinbase and Kraken range from 2% to 7%, according to Sosovalue[1].
Grayscale has already taken a step forward by activating staking in its Ethereum Trust ETF (ETHE) and Ethereum Mini Trust ETF (ETH), marking the first U.S. ETFs to offer this functionality[2]. The firm is leveraging institutional custodians such as Coinbase and a network of validator providers to manage staking[2]. This move addresses a key limitation of Ethereum ETFs, which previously lacked staking rewards-a factor that contributed to slower adoption compared to BitcoinBTC-- (BTC) ETFs. While Ethereum ETFs have attracted $2.28 billion in net inflows since their 2024 launch[1], Bitcoin ETFs have drawn over $35.4 billion, highlighting the gap in market traction[1].
Competitive fee reductions are further reshaping the Ethereum ETF market. Issuers are slashing fees to attract investors, with Franklin Templeton's Franklin Ethereum ETF (EZET) waiving its 0.19% fee entirely for the first year or until the fund reaches $10 billion in assets. BlackRock's iShares Ethereum Trust (ETHA) and Fidelity's Ethereum Fund (FETH) have set fees at 0.25%, with BlackRock offering a 50% discount until the fund hits $2.5 billion in assets. Grayscale's Ethereum Mini Trust ETF (ETH) has a 0.15% fee, waived for the first six months or until $2 billion in assets are accumulated. However, Grayscale's legacy fund, ETHEETHE--, maintains a 2.5% fee, drawing criticism for its lack of alignment with the competitive pricing of newer ETFs.
The Ethereum ETF market is also grappling with regulatory and structural challenges. The SEC's stance on staking, which it views as potentially akin to an investment contract under the Howey Test, has forced issuers to exclude staking from their ETFs to secure regulatory approval. This exclusion reduces the appeal of Ethereum ETFs compared to direct ETH holdings, which allow staking and associated rewards. Analysts note that the absence of staking could limit the long-term adoption of Ethereum ETFs, particularly as the asset underperforms Bitcoin in terms of price performance and market capitalization[1].
Despite these challenges, Ethereum ETFs are gaining momentum. Grayscale's ETHE, with $4.82 billion in assets, is the second-largest Ethereum ETF[2], while BlackRock's ETHA leads the market with $164.5 billion in Bitcoin ETF assets. Ethereum's recent 156% surge over six months-outpacing Bitcoin's 50% gain-has also fueled investor interest[2]. However, the token remains below its 2021 peak and faces competition from assets like XRPXRP-- and Solana[1].
The SEC's ongoing approvals of related innovations, such as options trading for Ethereum ETFs[1], indicate a broader regulatory shift toward mainstreaming crypto products. While staking remains pending, the competitive dynamics in fees and the growing adoption of Ethereum ETFs suggest that these funds could play a pivotal role in expanding institutional and retail exposure to the cryptocurrency.
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