Everyone is watching for the next major crypto ETF approval, and for many, XRP is at the head of the queue. However, if you ask ETF expert Nate Geraci, the SEC may be considering staking in spot Ethereum ETFs before approving XRP.
On Tuesday, the SEC formally acknowledged a 19b-4 filing from Nasdaq that would allow BlackRock’s iShares Ethereum Trust to offer staking services. This alone shifts the conversation. Geraci, who has been tracking these developments for months, said it is the final item left on his November checklist.
His prediction? The SEC could act on this "sooner rather than later," possibly even before any new spot crypto ETFs are approved — including XRP.
Why does this matter?
Staking enables ETH holders to earn passive rewards by locking their tokens into Ethereum’s proof-of-stake system. If ETF issuers can stake the underlying ETH in a fund, this adds an entirely new layer of yield potential — something that traditional finance is finding increasingly hard to ignore. It would also bring Ethereum ETFs closer to how the asset works in practice.
In the meantime, the SEC has approved in-kind creation and redemption for both Bitcoin and Ethereum ETFs, making another major structural shift. This means that investors can now settle directly in BTC or ETH instead of using cash, which cuts down on trading costs and improves tax efficiency.
In short, it seems that the SEC's current focus is less on expanding the ETF lineup and more on refining what is already live. If Geraci is right, staking could be the next big upgrade — and XRP may have to wait its turn.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team