The Quest for Ethereum ETF Staking: Cboe’s Bold Move! 😜

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On the twelfth day of February, in the year when humanity still struggles with its own follies, the Cboe BZX Exchange—a titan among mere mortals—made a humble attempt to persuade the guardians of finance, the SEC, to approve such audacious gambling as staking within the illustrious 21Shares Ethereum ETF!

Cboe’s Daring Proposal for Ethereum ETF Staking

In its grand endeavor to inject life into a stagnant crypto market, the Cboe BZX Exchange has laid bare its intentions, pleading with the SEC for permission to allow ETH within the revered vault of the 21Shares Core Ethereum ETF to be staked. Imagine, if you will, the riches that await investors—if the SEC can tear its gaze away from its age-old laws long enough!

Ah, staking! For those uninitiated souls, let it be known that it serves as a foundation for the Ethereum realm. In a historical twist worthy of a soap opera, the blockchain rid itself of the cumbersome Proof-of-Work system and embraced the noble Proof-of-Stake in September 2022. Those brave enough to participate can now offer their ETH to validate a web of transactions—earning rewards, of course, because what’s life without a little profit mixed with peril?

Once upon a time (2024, to be precise), the SEC cautiously approved its first Ethereum ETF, but with an iron fist—barred staking, like a parent refusing to let their child have dessert before dinner. This stern move pushed grand exchanges like Coinbase and Kraken to take their ball and go home, ceasing staking services for their loyal American patrons.

But wait! With the winds of change blowing ever so fiercely after Donald Trump’s electoral resurgence, a new breed of SEC officials has emerged—rumor suggests some even believe in the cryptographic cause. With this fresh leadership, the Cboe BZX Exchange seizes its moment to submit its pleading for Ethereum ETF staking with all the fervor of a hopeful suitor.

In the wondrous tapestry of their application, our valiant Cboe proposes a miraculous “point-and-click” staking method. Picture this: no more sending ETH away to unknown places for staking, instead, the ETF clutches its ETH tightly and stakes right from its own custody like a child hoarding their candy from a greedy sibling.

While this innovative staking mechanism improves security like a warm blanket on a cold night, it does not completely eliminate the threat of slashing penalties. These penalties are as delightful as they sound, imposed upon those who dare to break the sacred rules of the network—leading to the loss of their staked ETH, and perhaps, their dignity too.

To solidify its bold claim, the Cboe BZX Exchange equated the prohibition of staking for the 21Shares Ethereum ETF to a bizarre world where an equity ETF is barred from distributing dividends. They valiantly argue that staking rewards should bask in the same glow as dividends; after all, who doesn’t enjoy a little extra yield on their so-called “investments”?

ETH Price Gets a Wake-Up Call from Staking Buzz!

In the wake of Cboe’s audacious filing, ETH jumped from a humble $2,547 to a dizzying height of $2,795 before deciding to stabilize—because even cryptocurrencies need a breather sometimes.

Similarly, the bouncy tokens related to ETH staking, such as Lido (LDO), enjoyed their time in the spotlight—soaring from $1.46 to an impressive $1.84, then gracefully retracing back to $1.66. As of this very moment, dear reader, ETH trades at $2,633—a modest bump of 2.3% in just one day. What a whirlwind of joy and canny strategizing!

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2025-02-14 10:45