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Hester Peirce, a commissioner at the Securities and Exchange Commission (SEC), has indicated that the possibility of including staking in Ethereum exchange-traded funds (ETFs) is open for reevaluation.
During a conversation with Zack Guzman, Peirce addressed the opportunity to revisit the incorporation of staking in Ethereum ETFs, even though it was initially omitted from the submissions.
NEW: SEC Commissioner Peirce tells me Ethereum ETFs being able to stake could be open to reconsideration
“I think certainly something like staking, or any feature of the product … those are always open for reconsideration as far as I’m concerned” pic.twitter.com/SFUTPcX80z
— Zack Guzmán (@zGuz) July 17, 2024
SEC May Reassess Ethereum ETF Features
She emphasized that any characteristics of the product, including staking, could be reexamined in light of market demands and regulatory changes.
In the interview, Guzman remarked, “One piece that was dropped was staking. Of course, that was removed from the applications earlier on.”
“I wonder, you know, reasonings for that and whether or not any of that could change as we see these progress in the life of them being out there as products,” Guzman inquired.
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“There were features of the product that some people would have liked to see included but weren’t. And those are always open for reconsideration as far as I’m concerned,” Peirce stated.
This discussion is set against the backdrop of the SEC’s earlier approval of Ethereum ETFs, which did not include staking due to regulatory apprehensions. However, Peirce’s comments imply that the changing dynamics of digital assets may lead to a reevaluation of this choice.
The Commission has authorized spot Bitcoin ETFs, spot Ethereum ETFs, and has received applications from 21Shares and VanEck for their spot Solana ETFs.
Crypto Regulation May Experience a Shift
While the SEC has focused on the crypto sector and adopted an “Enforcement-First” regulatory approach by pursuing companies through numerous lawsuits, Patrick Daugherty, a partner at Foley & Lardner LLP, believes a shift may occur after the elections.
Daugherty speculated that if former President Donald Trump returns to office, his favorable stance toward crypto would likely benefit the sector, as he has shown support, promised no Central Bank Digital Currencies (CBDCs), and advocated for the right to self-custody.
Daugherty also suggested that if President Joe Biden secures reelection, he might appoint a new SEC Chair to succeed the currently opposed Gary Gensler.
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