VanEck Withdraws SEC Registration for Lido Staked Ethereum ETF

VanEck has withdrawn its SEC registration for the proposed Lido Staked Ethereum ETF, roughly a year after filing it, Cryptobriefing reported. The asset manager confirmed that no shares of the fund have been issued and none will be, closing out the first US ETF filing tied to Lido’s liquid staking token, stETH.

According to Cryptobriefing, the notice did not explain what prompted the decision or the timing of the reversal. VanEck had registered the product as a Delaware statutory trust in early October 2025 and followed with an S-1 registration statement. Forexcrunch reported that the S-1 was filed on Oct. 16, 2025, while Cryptobriefing placed its arrival at the SEC between Oct. 16 and Oct. 20, 2025. Cointelegraph also reported the Oct. 16, 2025 filing date. The withdrawal came to light on Oct. 14, 2026.

Key facts

• VanEck withdrew its SEC registration for a Lido Staked Ethereum ETF; no shares were issued and none will be, per Cryptobriefing.
• In the withdrawal filing, VanEck Digital Assets said it does not intend to proceed with the planned distribution of the trust’s shares, according to Forexcrunch.
• VanEck was the first firm to file for a US ETF tied to Lido’s liquid staking token, stETH.
• Lido’s total value locked was reported at $38 billion to $40 billion at the time of the filing, with over $2 billion in cumulative staking rewards distributed since launch.
• LDO, Lido’s governance token, rallied roughly 7% in October 2025 after the ETF filing was announced.

The fund that never launched

The proposed ETF would have held stETH directly, accruing staking rewards through ownership of the token. Forexcrunch reported that the design targeted brokerage-account investors, giving a pension fund or wealth manager access to staking yield without wallets, validators or private-key logistics. Cryptobriefing described the structure as pitched for daily liquidity, on-chain transparency and tax efficiency.

Since the registration never became effective, the trust had no shareholders to unwind. VanEck also did not receive a regulatory denial before pulling the application, Forexcrunch noted, and the company has not responded publicly to comment requests. Cointelegraph said it reached out to VanEck Digital Assets for comment.

Differences in the reporting

The outlets agree on the substance but diverge on details. Cryptobriefing said the S-1 reached the SEC sometime between Oct. 16 and Oct. 20, 2025, while Forexcrunch and Cointelegraph date the S-1 to Oct. 16, 2025. Cryptobriefing credited the stETH ETF filing as a first for a US product tied to Lido’s liquid staking token; Forexcrunch framed the withdrawal as setting the tone for the liquid staking ETF category in the US. Neither VanEck statement disclosed a replacement product plan, according to Forexcrunch.

Why it matters

For LDO holders, the roughly 7% rally that followed the original filing reflected expectations of institutional flows that this vehicle would have carried. With the fund withdrawn, those flows are off the table through this product. Lido’s reported fundamentals did not depend on the ETF: at the time of the filing, the protocol had $38 billion to $40 billion in total value locked and over $2 billion in cumulative staking rewards distributed since launch. The withdrawal also lands during a period of shifting SEC thinking on staking, with guidance distinguishing certain liquid staking activities from securities, and development of liquid staking ETFs continuing in both the US and Europe.

What to watch

Whether VanEck pursues a replacement product, which the company has not addressed, and how other US liquid staking ETF applicants proceed now that the category’s first filing is off the table.

This article is not financial advice. Crypto markets are volatile and uncertain, and LDO’s price can move sharply in either direction.

Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.

Sources: Crypto Briefing, Forexcrunch, Cointelegraph