VanEck Files to Launch First Staked Ethereum ETF in the US
VanEck has filed with the SEC to launch the first ETF tracking Lido staked Ethereum (stETH) in the US. The VanEck Lido Staked Ethereum ETF will let investors gain exposure to staked ETH’s price and staking rewards.
Lido Finance said the ETF would offer institutional investors a tax-efficient and regulated way to invest in Ethereum staking. The platform also noted that stETH helps manage creations and redemptions without Ethereum withdrawal delays.
This filing follows recent SEC guidelines clarifying that proof-of-stake and some liquid staking activities are not securities transactions. The SEC issued these guidelines in May and August 2023, providing a clearer path for products like stETH ETFs.
Ethereum Price Faces Resistance at $4,100
Ethereum’s price is under pressure near the $4,100 level after bouncing off support at $3,815. The $4,100 mark is a key resistance point that ETH struggled to pass during 2024’s uptrends.
In the last 24 hours, Ethereum saw $144.3 million in futures liquidations, including $62.6 million in long and $81.7 million in short liquidations, according to Coinglass data.
If ETH breaks above $4,100, it will face further resistance at $4,270 and $4,500. On the downside, a drop below $3,815 could push the price toward support near $3,500.
Market Indicators Show Mild Bearish Signs
Technical indicators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) show ongoing bearish pressure. However, there are slight signs of improvement in momentum.
