Overview
- VanEck submitted an S-1 for the VanEck Lido Staked ETH ETF, proposing a fund that holds Lido’s stETH rather than locking native ETH.
- The structure seeks to mirror staking yields while preserving daily liquidity, using stETH to avoid Ethereum’s native withdrawal delays.
- Coverage notes that recent SEC clarity on liquid staking underpins the filing, distinguishing staking receipt tokens like stETH from securities in specified contexts.
- Lido is described as the dominant liquid staking provider, reported at nearly $40 billion in assets and a large share of staked ETH.
- Review timing remains uncertain, with reports pointing to slower SEC processing during the U.S. government shutdown that could delay crypto ETF applications.