VanEck has withdrawn its SEC registration for its Lido Staked Ethereum ETF, confirming that no shares have been issued and none will be. This fund would have been the first US-linked instrument tied to Lido’s stETH token, offering institutional investors access to staking rewards without managing the blockchain themselves. Lido held between $38 billion and $40 billion in total value locked at the time of filing, having distributed over $2 billion in cumulative rewards since its launch. Lido’s LDO governance token rallied approximately 7% following the initial ETF announcement. VanEck did not disclose the specific rationale for the withdrawal, which comes amid shifting SEC guidance on liquid staking activities.
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