SEC Commissioner Peirce says staking for spot Ether ETFs may be reconsidered
While the U.S. Securities and Exchange Commission (SEC) approved spot Ethereum ETFs minus the staking option, Commissioner Hester Peirce says this could be open for reconsideration.
Peirce shared this view during an interview with Coinage, noting that the exclusion of staking for spot Ethereum (ETH) ETFs or other spot ETF features can be reassessed.
“There were features of the product that some people would have liked to see included but weren’t — those are always open for reconsideration as far as I’m concerned,” the SEC Commissioner noted.
Peirce declined to comment on what happened as the SEC engaged issuers and the dropping of staking.
Analyst on why a review for staking in ETH ETFs may happen
When SEC approved spot Ethereum ETFs in May, the issuers’ filings did not include staking, with this a result of the agency’s view that staking is an investment contract. The Commission sued Ethereum development firm Consensys in June over the same, specifically for the offering of this product via the company’s MetaMask wallet.
Commenting on the SEC Commissioner’s remarks, Bloomberg’s senior ETF analyst Eric Balchunas said Peirce’s view is what many have thought to be the case.
In particular, Balchunas noted in a comment on X, the reconsideration is likely for both staking and in-kind creation or redemptions for spot ETH and spot BTC ETFs. More likely, this happens should there be a change in the US government after the upcoming election.
Trump has emerged as the most likely to win and crypto bets on Polymarket suggest the industry is extremely bullish on this aspect.
Meanwhile, the crypto market has bounced amid expectation of spot Ethereum ETFs making their trading debut next week. The price of Ethereum rose to above $3,500 on July 17, while the enthusiasm also helped Solana and other altcoins to rebound to key levels.
