CoinShares analyst: An Ethereum ETF without staking features is like a "bond with no yield."

ChainCatcher news, according to Jinshi reports, investors are more cautious and divided in their attitudes before the launch of the Ethereum ETF in the United States, which sharply contrasts with the widespread enthusiasm before the launch of the Bitcoin ETF. One major concern for some investors is that the U.S. Securities and Exchange Commission has excluded the "staking" mechanism, which is a key feature on the Ethereum blockchain. Staking allows Ethereum users to earn rewards by locking up their Ether to help secure the network. Rewards or yields come in the form of newly issued Ether and a portion of network transaction fees. Under the current framework, the SEC will only allow ETFs to hold regular, un-staked Ether.

CoinShares analyst McClugge stated, "Institutional investors focused on Ethereum know that staking can generate yields. It's like a bond manager saying, I want to buy bonds, but I don't want to earn interest, which goes against the very purpose of buying bonds." McClugge believes that investors will continue to stake Ethereum and earn yields outside of the ETF, rather than paying fees and holding Ether within the ETF.