2026-01-06 05:26:27

A leading asset management institution's ETH staking ETF product has for the first time distributed staking rewards to investors. However, there's a key point: they sold all the ETH earned from staking over the past three months and distributed the proceeds to holders in the form of USDT, with each share worth approximately $0.083.

Since launching ETH staking last October, this is the first time rewards have been realized. It seems like a good thing, but problems arise—if other ETF products follow this model, staking itself would lose its meaning. ETH rewards are immediately converted into fiat currency, and investors receive cash rather than assets that grow over time. This approach effectively consumes the dividends of the staking ecosystem. In the long run, this logic could reshape market expectations for staking products.

ETH-0.56%

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ser_we_are_early

· 01-09 05:18

Hey, isn't this just a new way to cut leeks? Giving you money, but it's all stablecoins...

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ContractTearjerker

· 01-09 00:42

Wait, all sold off? Doesn't that mean treating ETH as a cash cow? Long-term holders are going to lose their shirts.

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WhaleWatcher

· 01-08 21:21

That's outrageous, selling off staking rewards directly? That's better than just buying financial products outright.

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RooftopVIP

· 01-06 05:56

This logic is ridiculous. Staking is equivalent to not staking at all, directly dumping to swap for stablecoins, just like freeloading.

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AirdropDreamBreaker

· 01-06 05:50

Isn't this just a new trick to cut leek? Dump ETH for USD, and investors still foolishly think they've made a profit. Another wave of follow-the-leader is coming, and staking has completely become a cash machine. Can this logic last long? I really can't see it. Why must they dump and split cash? Can't we choose for ourselves? The meaning of staking has been completely played out by these institutions. Once again, a textbook example of killing the goose that lays the golden eggs, a classic. $0.083 per token, is it still worth celebrating? When the market does this, trust will inevitably collapse.

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SurvivorshipBias

· 01-06 05:48

This logic is a bit problematic. Staking returns should inherently have an exit strategy; holding onto it blindly is more like a gambler's mentality. --- Wait, $0.083? That's an incredibly impressive yield haha. --- If a bunch of ETFs are sold off like this, wouldn't the ETH in the staking pools be decreasing... Who designed this? --- The key question is, what do investors really want? Do they care about the increase in ETH quantity, or do they just want USD? --- Now I understand why some say staking ETFs are a false demand. --- Basically, it's just taking advantage of the ecosystem's red dividends and then running away, pretty clever. --- But on the flip side, if you're buying a staking ETF, you might as well stake directly. After all the fees, the returns are even more pathetic. --- The headline grabbing is a bit much; $0.083, is this really a big deal? --- The fundamental nature of staking has been compromised, which is really annoying, but big institutions just do this kind of cut.

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MevHunter

· 01-06 05:45

Cash out again? Isn't this just a new trick for asset management institutions to harvest retail investors? I thought there might be compounding, but it just dumped the market and split into USDT... What's the point of staking? Is this all?

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TommyTeacher1

· 01-06 05:45

Hmm... this is awkward, the meaning of staking is directly killed by USDT. --- Wait, selling ETH for profit and then exchanging back to USDT? Isn't this just a disguised way of cutting leeks? --- Really, once everyone plays like this, staking products will turn into high-interest lending, which is no fun. --- $0.083 in returns, I'd rather go to sleep. --- So this model is actually overdrawing the ecosystem? I just want to know how many people will follow suit. --- Basically, it's all about cash flow, regardless of the ecosystem's health—typical short-sighted operation.

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