Overview
- VanEck filed the product as a statutory trust in Delaware via CSC Delaware Trust Company, a common structure for funds before an SEC submission.
- The proposed ETF would offer exposure to Lido’s staked ether (stETH), giving investors access to staking rewards of roughly 4% annually without running validators.
- Lido’s governance token jumped about 7% after the filing, with trading volume and derivatives activity rising sharply and open interest moving higher.
- Lido accounts for over 30% of all ETH staked, positioning the protocol to see broader usage if an ETF tied to stETH ultimately gains approval.
- Lido DAO recently approved a treasury-backed buyback framework to reduce circulating LDO supply, adding a policy backdrop to the market reaction.