Fidelity Adds Staking to Ethereum ETF Application

Fidelity has updated its application to the U.S. Securities and Exchange Commission (SEC) to include staking in its Ethereum fund, FETH.

The fund will be able to allocate up to 100% of its assets to the Ethereum network under normal conditions.

Of the staking rewards, 85% will go to the fund, while 15% will be distributed among sponsors, custodians, and node operators.

The net income after expenses is planned to be distributed quarterly to shareholders in U.S. dollars.