Lido’s token (LDO) climbed 7% to $1.30 on Thursday, extending a 20% rally over the past week. The surge comes after asset manager VanEck formally registered a Lido Staked Ethereum (stETH) exchange-traded fund (ETF) in Delaware.
The October 2 filing signals VanEck’s intent to expand beyond spot Bitcoin and Ethereum ETFs into yield-generating products. While registration does not guarantee approval, it has sparked renewed optimism for liquid staking.
According to CoinMarketCap data, Lido’s 24-hour trading volume rose nearly 29% to $168.5 million and the derivatives volume increased by 45% to $426.9 million. The open interest rose by 6.6% to $222.60 million, which indicates that traders are opening positions in the hope of further gains.
The proposed ETF would enable investors to invest in Lido staked Ethereum and earn an estimated 4% annual reward without operating validators or asset locking. Lido is already the leading provider of ETH staking at more than 24%.
Buybacks and growth plans support LDO
Recently, Lido DAO passed a buyback program with treasury assets such as stETH and stablecoins, which may decrease the supply in circulation and promote the value of tokens. Its long-term perspective is also reinforced by integrations with Layer-2 networks and decentralization of the validators.
Analysts at CoinCodex project LDO could reach $1.34–$1.75 this month, potentially rising to $2–$3 by year-end. However, regulatory delays or competition from rival protocols remain risks.
The ETF filing by VanEck brings out the increasing popularity of staking-based products, which makes Lido the focal point of the liquid staking discussion, and investors consider both opportunity and risk.
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