Vaneck Pulls the Plug on Its Lido Staked Ether ETF Before Launch

Vaneck has asked the U.S. Securities and Exchange Commission (SEC) to let it withdraw its Lido Staked Ethereum Exchange-Traded Fund (ETF), a year after filing for it. The filing was short, and in a Form RW dated Oct. 14, Vaneck Digital Assets vice president Matthew Babinsky asked the SEC to consent to withdrawing the registration because the sponsor “does not intend to proceed with the planned distribution” of the trust’s shares. The letter confirms the registration statement was never declared effective and that no shares were sold. The withdrawal sat unnoticed for more than a day before market feeds started to pick up the update earlier today.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Bitcoin.com News.