This morning I saw that VanEck withdrew its application for the Lido staking $ETH ETF.
The headline had barely come out, and people in the group were already translating it as:
“The SEC won’t allow staking ETFs. Lido is done.”
I went through the available filings again. What we can confirm is that VanEck voluntarily withdrew its application. The filing doesn’t say the SEC rejected it, nor does it explain why it was withdrawn.
We still don’t know the reason, but people have already come up with more than a dozen bearish takes on ETH and LDO.
I’m not chasing this kind of news with my 500U for now.
I’ll wait until the filing makes the reason clear before deciding. Jumping in now would basically mean making up the story as I go.
The headline had barely come out, and people in the group were already translating it as:
“The SEC won’t allow staking ETFs. Lido is done.”
I went through the available filings again. What we can confirm is that VanEck voluntarily withdrew its application. The filing doesn’t say the SEC rejected it, nor does it explain why it was withdrawn.
We still don’t know the reason, but people have already come up with more than a dozen bearish takes on ETH and LDO.
I’m not chasing this kind of news with my 500U for now.
I’ll wait until the filing makes the reason clear before deciding. Jumping in now would basically mean making up the story as I go.