Something Big Might Be Coming for Ethereum! The First Application Pointing to a Turning Point in ETH Has Been Made! Here Are the Details...

In 2024, the SEC took important steps for the cryptocurrency sector by approving Ethereum ETFs after Bitcoin. However, it did not allow the inclusion of staking feature while approving ETH ETFs.

This situation, while frequently criticized, has led to expectations of a more moderate new SEC management, causing movement in the ETH aside from new altcoin ETF applications.

At this point, the CBOE BZX exchange proposed a change in staking in the 21Shares Ethereum ETF.

Bloomberg ETF analyst James Seyffart applied to the CBOE BZX Exchange to allow the Ethereum held by the fund to be staked and to change the 21Shares Core ETH ETF.

According to Seyffart, this was the first application to the SEC to add staking to these ETH ETFs.

Cboe included the following statements in its proposed rule change filing:

"Based on the discussions, exchanges are proposing a change to allow Ethereum staking held by the ETF.

Allowing the ETF to stake Ethereum will benefit investors and help the Foundation better track the returns of holding Ether.

The filing assured that 21Shares would provide sufficient liquidity to cover staking repayments.

Market analysts predict that the SEC's approval of staking could make the ETH ETF much more attractive to institutions and be positive for ETH.

At this point, popular cryptocurrency investor Ash Crypto X said from his account” this is a very big deal for Ethereum ”.

The Ethereum price fully recovered its losses in the last 24 hours after 21Shares proposed to add staking services for its spot ETH ETF. After dropping to $2,550 following higher-than-expected CPI data, Ethereum reached $2,740 with a 5.7% increase in the last 24 hours.