Law & Policy

CBOE proposed a rule change that would allow ETFs to stake crypto 

They completely punted on the liquidity question, saying:

“The Sponsor expects to maintain sufficient liquidity in The Trust to satisfy redemptions and current liabilities”

CBOE proposed a rule change that would allow ETFs to stake crypto 

They completely punted on the liquidity question, saying:

“The Sponsor expects to maintain sufficient liquidity in The Trust to satisfy redemptions and current liabilities” 

https://cdn.cboe.com/resources/regulation/rule_filings/pending/2025/SR-CboeBZX-2025-038.pdf

Question is how? Worst case unlock period for ETH is around 1 month. Inability to redeem in 30+ days would not be “sufficient” under current regs and norms 

Depending how the chips fall something like staked SOL (3 day unlock worst case might be a more viable product than staked ETH

Or they’ll update the rules

How unusual or surprising is this? “Sufficient liquidity” seems like an appropriate rule to me, particularly since staking varies by network