Ethereum (ETH) Price: Fidelity Files to Add Staking to ETH ETF as Whales Keep Buying
TLDR
- Fidelity has filed with the SEC to allow staking in its Ethereum ETF, which holds over $898 million in net assets
- The fund plans to retain 85% of gross staking rewards, with the rest going to sponsors, custodians, and node operators
- Ethereumโs community is divided over EIP-8363, which could reduce staking rewards if the staking ratio exceeds 50%
- Whale buying continues, with Bitmine acquiring 7,391 ETH worth ~$14 million as the $1,850 level held as support
- ETH is consolidating between key moving averages, with resistance at $1,922 and a bullish flag pattern targeting $2,500
Fidelity has filed with the US Securities and Exchange Commission to allow staking inside its Ethereum ETF, the Fidelity Ethereum Fund (FETH). The fund currently holds over $898 million in net assets.
JUST IN: $7.8T asset manager Fidelity files to add staking to its spot $ETH ETF.
Fidelity Ethereum Fund (FETH) could stake up to 100% of its 480k+ ETH, worth roughly $880M.
The fund would retain 85% of staking rewards and pay investors in cash every quarter. pic.twitter.com/pTrBMR7yP5
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