When Will the SEC Let ETH Stake Like Everyone Else? 🤔💸

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Ah, the U.S. Securities and Exchange Commission, that illustrious institution often draped in the robes of eternal procrastination! In their latest act of theatrical delay, they’ve decided to keep us all on the edge of our seats regarding Franklin Templeton’s Ethereum ETF—yes, the one that filed for a little staking love on the balmy day of March 10, 2025, courtesy of the ever-so-diligent Cboe BZX Exchange, Inc.

You see, our dear ETF, emboldened by visions of passive income—like a cat dreaming of catching imaginary mice—has asked permission to stake its Ethereum holdings and bask in the glory of rewards. A noble endeavor, you might say. But alas, the SEC, armed with their magnifying glasses and rule books thicker than the latest Russian novel, has chosen to delay this straightforward request, lest the heavens weep at the thought of unregulated staking.

Now, one might wonder why such a simple proposal—akin to asking if one can sit at a dinner table—needs a grand investigation. The Commission, in all its wisdom, is belly-deep in evaluating whether this staking scheme fits snugly within the embrace of investor protection rules as outlined in the illustrious Securities Exchange Act. It seems they have conjured concerns regarding whether this operation adheres to Section 6(b)(5)—you know, the sacred text that ensures our markets remain free from tricksters and charlatans.

take their sweet time while we chew our fingernails and speculate on what lies ahead!

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2025-06-16 19:19