Vaneck has taken an early stage towards the launch of a trade fund (ETF) marked by Etareum by recording a statutory trust for the product in Delaware, a public file dated October 2.
The proposed product, named the FNB ETF of Vaneck Lido, would give investors an exposure to ether This is marked out via Lido, a decentralized protocol which allows users to win rewards without locking the assets themselves.
The registration of the trust is a first procedural decision and does not yet represent an official ETF request to the Securities and Exchange Commission (SEC).
Lido Dominadtes Ethereum punctuating, with around 38 billion dollars of ETH – about a third of all stretched ether – currently locked in the protocol. He is a key player in the Ethereum proof system, allowing users to gain a yield on their tokens while keeping them liquid via derivative tokens called STETH.
In traditional financial terms, the FNB would operate as a fund which contains assets with interest, but instead of obligations or money, it would hold ethn. This structure would open the Jalaine crypto to institutional investors who prefer the packaging of ETFs, while directly removing the technical barrier of the implementation.
The Lido governance token, LDO, has increased by more than 3% in the last 24 hours.
If it is approved, Vaneck’s product could be the first ETH ETH marked in the United States, adding a new layer to the growing competition between issuers to launch funds based on cryptography.
