ETH Spot ETFs Now Allow Staking, Contributing to Price Surge

According to PANews, on October 7, on-chain analyst Yu Jin noted that the recent allowance for staking ETH in U.S. ETH spot ETFs might be one of the reasons behind ETH's price rebound from $3,800 to $4,700. Grayscale-managed ETH spot ETFs have staked 32,000 ETH in the past nine hours. Twenty days ago, they conducted a large-scale ETH distribution, allocating 3,200 ETH to each address. Last night, an announcement confirmed that the ETFs they manage can now stake ETH, leading to the staking of 32,000 ETH using 10 addresses.