On March 18, 2024, Fidelity amended its application for a spot Ethereum (ETH) ETF with the U.S. Securities and Exchange Commission (SEC) to include staking, aiming to offer additional income to investors. This move, reported on March 19, 2024, has ignited discussions within the cryptocurrency community about its potential for approval and the implications for the market, including the impact on similar products like Grayscale's Ethereum Trust, which also looks to add staking as per its new 14A form. The amendment includes a more in-depth analysis on the correlation between ETH spot and futures markets, referencing the approval of a spot Bitcoin ETF as a precedent. Industry observers speculate that this could be a strategic play by Fidelity to negotiate with the SEC, possibly by offering to remove the staking option as a concession. The outcome of this application could set a significant precedent for the cryptocurrency market, particularly in how regulatory bodies view staking within financial products.