Ethereum co-founder: Issuers are preparing for a staking-based Ethereum ETF and are confident of approval under the new SEC leadership

ChainCatcher news, according to Cointelegraph, Ethereum co-founder Joe Lubin revealed that ETF issuers are actively preparing for a staking-based Ethereum ETF and are confident of obtaining approval under the new SEC leadership. Lubin stated that issuers are working hard to develop the best solutions for clients to address the complexities related to staking and penalty mechanisms, which will help enhance the robustness of the ecosystem and client diversity.

Currently, approximately 33.7 million ETH (worth about $11.3 billion) are participating in staking, accounting for 28% of the total supply. The SEC established a cryptocurrency working group on January 21, led by crypto-friendly commissioner Hester Peirce, responsible for developing a regulatory framework for digital assets. Peirce hinted in an interview last December that the new leadership may push for a more friendly approach to crypto policy.

Former Polygon CFO Young Ko believes that the crypto working group led by Peirce is beneficial for industry development, as she understands the essence of the technology and supports industry growth. Investment bank Bernstein Research predicts that under a crypto-friendly SEC leadership appointed by Trump, an ETH staking yield ETF is likely to be approved.