Vaneck withdraws registration application for Lido staking Ethereum ETF

Asset management company Vaneck has applied to the US Securities and Exchange Commission (SEC) to withdraw the registration documents for the Lido Pledged Ethereum ETF. The registration statement is not effective and the fund has not sold any shares. The product was originally planned to hold the liquidity token stETH issued by the Lido protocol. The total lock up value of Lido is currently about $23.6 billion, lower than $33.3 billion a year ago. BlackRock launched an ETHB that directly pledges Ethereum through validators in March 2026, with a net asset of $409.8 million as of March 31. (Source: Bitcoin.com News)