Regulation· ★★★· bearish· October 17, 23:36

VanEck withdraws application for Lido stETH-based ETF

—VanEck pulled its SEC filing for the VanEck Lido Staked Ethereum ETF
—The product was to hold stETH directly and earn validation income
—The filing came from VanEck's digital assets unit

Why it matters: The withdrawal dims prospects for US ETFs on staking tokens and signals hurdles in getting such products approved.

Source: BitExpert

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Morning wrap Oct 15: BTC and ETH slide, VanEck drops stETH ETF, Polygon wins licenses in 48 states