Fidelity files with SEC to add staking to Ethereum ETF

Fidelity plans to add staking to its Ether fund, with 85% of rewards retained by FETH and quarterly cash distributions planned for investors.

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

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.

The fund would retain 85% of staking rewards, with 15% going toward staking fees, and plans quarterly cash distributions, although payouts are not guaranteed. Fidelity expects staking to begin “as soon as practicable” after the prospectus date. The preliminary prospectus remains subject to change before the registration statement becomes effective.

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Source: https://cointelegraph.com/news/fidelity-staking-ethereum-etf-sec-filing?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound