Fidelity is actively pursuing the approval of an Ethereum (ETH) ETF, which includes a unique feature of staking a portion of the Ether held by the ETF to generate additional income for investors. Despite skepticism regarding the approval of such a feature by the SEC, Fidelity has amended its application to include 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 including staking in the ETF application might be a smart tactical play to negotiate with the SEC, potentially allowing the ETF's approval by removing the staking option as a concession by May 23rd. This development is seen as part of a broader effort by ETF issuers to navigate regulatory challenges while innovating within the cryptocurrency ETF space.