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71 sats \ 5 replies \ @siggy47 OP 21 May \ parent \ on: My Not Fully Thought Out Speculation bitcoin
Can you explain this further? It's been a while since I read about eth. I do recall reading a while ago that it's more aligned to bank activites and more susceptible to manipulation. Also, what is the story with staking? Is it prohibited in the application, or did the protocol get fucked up when they moved to POS?
Yes SEC made issuers remove staking from the filings. So it looks like the spot eth etf is a lock but it will not have staking rewards, which in my opinion really erodes its value proposition. I imagine that will come eventually but maybe SEC is keeping one toe in the water in case political winds shift again and they could argue that eth is a commodity but staked eth is a security (which is logical especially if you are staking with a custodian as most people do).
I think Larry Fink really wanted an eth etf. He wants to test tokenization of funds on eth (I don't think that's where they will eventually end up, my guess is it will be on a DTCC database) but if ethereum gets into the walled garden he can experiment with tokenized funds and sell them as being on an "approved" blockchain.
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Thanks for all of this great information.
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