Financial services firm Fidelity has requested authorization to use a portion of the Ethereum held by its proposed exchange-traded fund (ETF) in order to generate revenue for investors.
In an amendment filed with the US Securities and Exchange Commission (SEC) on March 18, Fidelity has stated that if the ETF is approved, it plans to bet a portion of its assets through trusted staking providers.
While staking provider details have not been disclosed, there are several providers in the market, including Lido DAO, RocketPool and StakeWise.
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The company said:
"In consideration for any staking activity in which the Fund may engage, the Fund would receive certain network rewards of ether tokens, which may be treated as income to the Fund as compensation for services provided."
The largest of these providers, Lido, currently holds $35 billion in blocked Ether.