SEC Commissioner Want to Reconsider Ethereum ETF Staking

Bittime - Commissioner of the United States Securities and Exchange Commission (SEC), Hester Peirce, opened the opportunity to reconsider the staking feature of the Ethereum ETF (Exchange Traded Fund). Staking is a process where investors can earn profits by “locking up” their ETH holdings. 

This is to support transaction validation on the Ethereum blockchain network. This feature is certainly highly anticipated by investors who want to earn additional income from their ETH holdings.

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Ethereum ETF Staking Feature Not Included in Proposal

Initially, the staking feature was not included in the initial Ethereum ETF proposal submitted to the SEC. However, in an interview with Zack Guzman, Peirce stated that various product features, including staking, could be reconsidered based on regulatory developments and market needs.

"There are some features that investors might have wanted but weren't included. And as far as I see, those features can always be reconsidered," said Peirce.

This statement certainly provides new hope for investors. Moreover, the SEC's approval of the Ethereum ETF came after they approved the Bitcoin ETF. This shows that more and more crypto assets are being officially recognized.

Shift Regulations Crypto in the United States?

Interestingly, Peirce's interview also touched on a potential shift in crypto regulation in the United States. Patrick Daugherty, a legal expert from the firm Foley & Lardner LLP, predicts a change in regulatory approach after the upcoming general election.

Daugherty predicts that if former President Donald Trump is re-elected, his pro-crypto policies will have a positive impact. Trump has previously expressed his support for crypto. 

Additionally, he rejected central bank digital currencies (CBDC). He also supports investors' rights to keep their own crypto assets (self-custody).

On the other hand, if President Joe Biden is re-elected, Daugherty predicts a change in leadership at the SEC. Currently, SEC leadership under Gary Gensler is considered less friendly towards crypto.

It should be noted that Daugherty's predictions are speculative. However, Peirce's statement regarding staking in the Ethereum ETF is a positive signal for the future of crypto investment in the United States.

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To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

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