Investment firm VanEck has filed with the U.S. Securities and Exchange Commission (SEC) to launch the VanEck Lido Staked ETH ETF. This is the first proposed U.S. exchange-traded fund that would hold stETH, a version of Ethereum staked through the Lido protocol.
The filing signals a major moment for liquid staking. So far, liquid staking is one of the fastest-growing corners of the crypto world. It allows users earn staking rewards while keeping their assets tradable. Lido, the largest liquid staking platform, currently secures nearly $40 billion worth of staked assets and has paid out over $2 billion in rewards since launch.
What the ETF Would Do
If approved, the VanEck Lido Staked ETH ETF would give investors a regulated and tax-efficient way to gain exposure to Ethereum staking without managing crypto directly. The ETF mirrors Ethereum's staking system while allowing daily liquidity and transparent on-chain backing.
Since users can trade or redeem stETH without waiting for Ethereum's withdrawal process, it helps ETF issuers manage funds more efficiently. The proposal highlights stETH's strong track record of audited smart contracts, deep liquidity, and institutional integrations with major exchanges and custodians.
According to Kean Gilbert, Head of Institutional Relations at the Lido Ecosystem Foundation, the filing shows that decentralization and institutional standards "can coexist," forming a bridge between traditional finance and Web3 infrastructure.
Why Does This Matter?
This is the first U.S. ETF tied to stETH, underscoring the growing link between decentralized finance and traditional markets. It also comes after recent SEC guidance clarified that liquid staking tokens like stETH are not securities when issued and traded under standard conditions.
If approved, VanEck's ETF could make Ethereum staking more accessible to big investors and further legitimize Lido as a key part of Ethereum's institutional future.
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