Overview
- The guidance creates a formal pathway for exchange‑traded products to stake permissionless proof‑of‑stake assets and distribute rewards to holders.
- Funds must use a qualified custodian, hold a single crypto asset plus cash, and limit activities to holding, staking, and redeeming the token.
- Issuers must adopt SEC‑approved liquidity policies to ensure redemptions can occur while assets are staked, using arm’s‑length independent staking providers.
- Treasury framed the move as integrating staking into regulated products with aligned tax and compliance treatment, providing long‑sought clarity for issuers.
- Industry experts say the change is likely to accelerate institutional participation in networks such as Ethereum and Solana and spur staking‑based ETP designs.