$LDO Lido is now one ETF short: VanEck has filed with the U.S. Securities and Exchange Commission to withdraw the “VanEck Lido Staked Ether ETF” and no longer plans to launch it.
Lido is a liquid staking protocol for Ethereum. When you stake ETH with it, you receive stETH, which can be freely transferred. LDO is its governance token, used to vote on changes to the protocol.
The ETF was originally intended to hold stETH directly, allowing investors who bought shares to earn staking rewards as well. It was filed for in October last year but never became effective.
The withdrawal filing gives just one reason: VanEck no longer intends to issue the ETF. It also confirms that not a single share was sold, but offers no explanation.
For Lido, this means one fewer way for traditional investors to buy stETH directly through an ETF.
Lido is a liquid staking protocol for Ethereum. When you stake ETH with it, you receive stETH, which can be freely transferred. LDO is its governance token, used to vote on changes to the protocol.
The ETF was originally intended to hold stETH directly, allowing investors who bought shares to earn staking rewards as well. It was filed for in October last year but never became effective.
The withdrawal filing gives just one reason: VanEck no longer intends to issue the ETF. It also confirms that not a single share was sold, but offers no explanation.
For Lido, this means one fewer way for traditional investors to buy stETH directly through an ETF.