VanEck Files Delaware Trust For Staked Ethereum ETF Linked To Lido

VanEck has taken an early step toward bringing a staked Ethereum exchange-traded fund (ETF) to U.S. markets, signaling growing institutional appetite for yield-bearing crypto products.

A public filing dated October 2 shows the asset manager has registered a statutory trust in Delaware for what it is calling the VanEck Lido Staked Ethereum ETF.

The proposed product would give investors exposure to Ethereum while also capturing staking rewards through Lido, the leading decentralized staking protocol. Unlike traditional staking, where coins must remain locked, Lido issues a derivative token known as stETH, allowing users to retain liquidity while still earning yield.

Why Lido Matters

Ethereum’s shift to proof-of-stake has created a multi-billion-dollar staking economy, and Lido has emerged as its dominant player. As of early October, the protocol secures about $38 billion worth of ETH, representing roughly one-third of all staked ether in circulation. This scale makes it a natural partner for large financial products seeking both yield and liquidity.

For institutions, the advantage of tying an ETF to Lido is twofold: it simplifies access to Ethereum staking returns while maintaining compliance with regulated market structures. Instead of navigating technical hurdles of node operation or lock-up periods, investors could gain seamless exposure via traditional brokerage accounts.

SEC Hurdles Ahead

Registering a trust in Delaware is only a preliminary step and does not constitute a formal ETF filing with the Securities and Exchange Commission (SEC). VanEck would still need to submit and secure approval for a full application, a process that has proven lengthy and uncertain for crypto-based products.

Read More:

Thailand Eyes Expansion of Crypto ETFs Beyond Bitcoin

The SEC has so far only approved spot Bitcoin ETFs after years of resistance, and staking-based funds could face even tougher scrutiny given regulatory debates around whether staking rewards resemble yield-bearing securities.

Expanding ETF Innovation

Still, the move underscores a broader trend: Wall Street firms are racing to differentiate their crypto offerings beyond simple price exposure. With Bitcoin ETFs already holding over $150 billion in assets under management, products that offer additional income streams, such as staking, could represent the next frontier.

For Ethereum investors, a staked ETF would mark a major milestone, blending decentralized finance infrastructure with regulated financial markets. If approved, VanEck’s product could set the stage for more staking-based ETFs tied to other proof-of-stake blockchains in the future.