VanEck Shelves Lido Staked Ether ETF After Telling SEC It Won’t Proceed: how 5 outlets framed it

Brokerage access plan

The Defiant described the proposed product as offering brokerage-account exposure to Lido’s liquid-staking token, while it would have held stETH directly rather than spot ether itself. 디지털투데이 said the fund was designed to hold stETH directly and allow investment in Lido's liquid staking token through brokerage accounts, but its registration had not taken effect.

디지털투데이 said stETH is Lido's flagship liquid staking token and is designed to maintain liquidity in token form even after depositing ether. 디지털투데이 said the withdrawal put on hold the attempt to create a regulated product route that provides stETH exposure through brokerage accounts, because the registration did not lead to an actual launch.

Market reaction and stakes

Pluang said Starknet's STRK token plunged nearly 29% within 24 hours, alongside other altcoins like LIT, ENA, NEAR, and W, which each fell about 15%. Pluang also said additional tokens including CFX, ONDO, LDO, ICP, WLD, FIL, and UNI experienced double-digit losses while VanEck withdrew its SEC registration for the Lido Staked Ethereum ETF.

Pluang stated that VanEck’s withdrawal confirmed no shares were issued and none will be, and it framed the ETF as the first US attempt to offer exposure to Lido’s liquid staking token, stETH. Cointelegraph said VanEck sought to withdraw its application for the Lido staked Ether ETF, and it reported that VanEck shelved the product designed to give investors exposure to the liquid staking token.