SEC postpones decision on Bitwise Ethereum ETF pledge proposal

The US Securities and Exchange Commission (SEC) has postponed its decision on the Bitwise Ethereum ETF staking proposal and announced the launch of a new round of review while seeking public opinion. Previously, Bitwise proposed adding staking functionality to its Ethereum ETF, allowing investors to participate in cybersecurity and receive rewards by locking in Ethereum. Bitwise believes that this can increase investor returns without changing the ETF structure. However, the SEC has expressed concerns about the investment risks and potential conflicts of interest that pledge may bring, and believes that any modifications must ensure investor protection and fair trade. The SEC issued a statement on June 30th stating the need for further evaluation of the impact of pledges on investors and the establishment of a public opinion solicitation period. At present, Bitwise's Ethereum ETF will maintain its status quo and only hold spot Ethereum. This decision may have an impact on the staking function of similar ETFs in the future. If approved, other fund management companies may also try to add pledge functionality. In addition, Gregory King, CEO of Rex Osprey, stated that its Solana Pledged ETF is expected to be launched on July 2nd.