Fidelity Seeks SEC Approval for Staked Ethereum ETF

Fidelity Investments has filed with the US Securities and Exchange Commission (SEC) to add staking to its spot Ether exchange-traded product, the Fidelity Ethereum Fund (FETH).

The asset manager said FETH could stake up to 100% of its Ether under normal conditions, excluding ETH reserved for redemptions, expenses and liquidity needs.

Fidelity would retain 85% of staking rewards, with 15% going toward staking fees, and plans quarterly cash distributions, although payouts are not guaranteed.