ARK Invest and 21Shares have submitted a new proposal to launch a spot Ethereum exchange-traded fund (ETF).
However, this revised proposal comes with one notable change: the exclusion of staking.
In their initial submission, the companies had included plans to stake a portion of the ETF's assets through trusted providers. However, Friday's updated filing no longer mentions this component.
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According to Bloomberg ETF analyst Eric Balchunas, the removal of staking could have different implications.
Notably, this could be an attempt to align its filings with SEC comments, which would be a positive development.
However, given that there have been no comments from the SEC, it could also be a last-ditch effort or a strategy to minimize the SEC's reasons for rejecting the proposal.