Ethereum co-founder Joe Lubin recently expressed optimism regarding the potential approval of staked Ether ETFs by the U.S. Securities and Exchange Commission (SEC). This comes as discussions with ETF issuers suggest that they are working diligently to meet regulatory requirements. Lubin’s remarks highlight the industry’s belief that under new SEC leadership, the landscape for digital asset ETFs could soon become more favorable.
According to Lubin, fund issuers are not just waiting but are actively developing robust solutions for customers facing challenges related to staking and slashing. He emphasized that this proactive approach could lead to a stronger ecosystem and greater diversity amongst clients. “I think it’s going to be great for the technology and the ecosystem because they are leaning in to enable us to — as an ecosystem — do a better, more robust, more diversified job,” Lubin stated.
Last year, the SEC greenlit the approval of spot Ether ETFs, resulting in the launch of nine products in July. Although the initial inflow was slower than that of Bitcoin ETFs, with approximately $2.7 billion gathered so far, the market’s trajectory may shift with the forthcoming potential for staked Ether ETFs. As of now, about 33.7 million ETH, equating to approximately $113 billion, is staked, representing a substantial 28% of Ethereum’s total supply.
The SEC’s recent formation of a crypto task force, spearheaded by Commissioner Hester Peirce, aims to create a regulatory framework for digital assets. Peirce has previously hinted that the SEC could be undergoing a significant shift that may favor the approval of crypto products. In a statement regarding the ETF landscape, Peirce indicated that a majority of commissioners favorable to crypto could facilitate smoother approvals: “If it changes from a majority of Commissioners who don’t want things to go through to a majority of Commissioners who do want things to go through, then yeah, it’s easier.”
Industry experts like Young Ko, former financial chief at Polygon, echoed Lubin’s sentiments, openly praising the SEC’s crypto task force for its understanding of the tech and support for builders. As anticipation for the approval of staked Ether ETFs grows, investors and stakeholders are watching closely, hopeful that this will mark a significant advancement for the Ethereum ecosystem and the broader cryptocurrency market.
- Staked Ether ETFs expected to get approval.
- SEC shifts towards a more crypto-friendly stance.
- Significant amount of ETH currently staked.
- Industry leaders optimistic about future developments.
