Cboe BZX Exchange files proposed change to allow staking for 21Shares’ Ethereum ETF

The Cboe BZX Exchange, Inc. filed a change to allow staking for the 21Shares Core Ethereum exchange-traded fund.In a Form 19b-4 posted on Wednesday afternoon, the exchange proposed allowing staking of ether and awaits the U.S. Securities and Exchange Commission's next move."Based on discussions with the Sponsor, the Exchanges proposes to amend several portions of the Eth ETP Amendment No. 2, as amended, in order to allow the staking of the Ethereum held by the Trust," according to the filing.Bloomberg Intelligence ETF analyst James Seyffart alluded to Wednesday's filing being the first ETF to file with the SEC to allow for staking."Assuming this is acknowledged by the SEC (I'd probably make that assumption right now but you never know)," Seyffart said in a post on X.The SEC approved the 21Shares Core Ethereum ETF last year along with others, including BlackRock and Fidelity. Many firms cut staking out of their registration statements ahead of the agency's sign-off. The agency, under former SEC Chair Gary Gensler had previously said proof-of-stake tokens are securities. The SEC is expected to take a friendlier stance to crypto in the Trump administration and has since created a crypto task force with plans to classify some tokens as "non-securities."Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.