{"id":183446,"date":"2026-10-15T07:24:15","date_gmt":"2026-10-15T07:24:15","guid":{"rendered":"https:\/\/cryptonews.com\/fr\/news\/vaneck-abandonne-projet-etf-lido-staked-ethereum-sec\/"},"modified":"2026-10-15T07:24:15","modified_gmt":"2026-10-15T07:24:15","slug":"vaneck-abandonne-projet-etf-lido-staked-ethereum-sec","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/fr\/news\/vaneck-abandonne-projet-etf-lido-staked-ethereum-sec\/","title":{"rendered":"VanEck abandonne son projet d&rsquo;ETF Lido Staked Ethereum"},"content":{"rendered":"<p>Le gestionnaire d&rsquo;actifs <strong>VanEck Digital Assets<\/strong> a officiellement demand\u00e9 \u00e0 la SEC, hier soir, le retrait de l&rsquo;enregistrement de son projet d&rsquo;<strong>ETF Lido Staked Ethereum<\/strong>, pr\u00e8s d&rsquo;un an apr\u00e8s son d\u00e9p\u00f4t initial. Cette demande met fin \u00e0 un projet qui visait \u00e0 offrir aux investisseurs institutionnels une exposition \u00e0 l&rsquo;Ether stak\u00e9 via un produit cot\u00e9 en bourse.<\/p><p>Dans son document officiel, VanEck sollicite le retrait de la d\u00e9claration d&rsquo;enregistrement, de ses amendements et des pi\u00e8ces justificatives, conform\u00e9ment \u00e0 la r\u00e8gle 477 du Securities Act de 1933. La requ\u00eate concerne le num\u00e9ro d&rsquo;enregistrement 333-290918 et fait suite au d\u00e9p\u00f4t initial du formulaire S-1 effectu\u00e9 le 16 octobre 2025.<\/p><p><\/p><blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">VanEck just pulled the plug on its Lido Staked Ethereum ETF. The firm filed with the SEC to withdraw the registration and says it no longer plans to move forward with the fund.<br><br>That is a big name walking away from a staked ETH product it already put on file. Lido staking inside\u2026 <a href=\"https:\/\/t.co\/A2B7fPZJMl\">pic.twitter.com\/A2B7fPZJMl<\/a><\/p>&mdash; rehen (@justrehen) <a href=\"https:\/\/x.com\/justrehen\/status\/2110569798170263744?ref_src=twsrc%5Etfw\">October 15, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script><p>VanEck a pr\u00e9cis\u00e9 qu&rsquo;elle n&rsquo;avait plus l&rsquo;intention de proc\u00e9der \u00e0 la distribution des actions. Le document confirme que la d\u00e9claration d&rsquo;enregistrement n&rsquo;\u00e9tait pas encore entr\u00e9e en vigueur, qu&rsquo;aucun titre n&rsquo;a \u00e9t\u00e9 \u00e9mis ou vendu, et qu&rsquo;aucun prospectus pr\u00e9liminaire n&rsquo;a \u00e9t\u00e9 diffus\u00e9.<\/p><p>Ces pr\u00e9cisions sont cruciales pour la structure du march\u00e9 : aucun d\u00e9tenteur d&rsquo;ETF n&rsquo;aura besoin de proc\u00e9der \u00e0 des rachats et aucun actif du fonds ne devra \u00eatre liquid\u00e9. La demande d\u00e9pos\u00e9e aupr\u00e8s de la SEC sollicite un effet imm\u00e9diat au 14 octobre, ou \u00e0 la date la plus proche possible.<\/p><p>L&rsquo;ETF propos\u00e9 par VanEck aurait d\u00e9tenu du <strong>stETH<\/strong>, le jeton de liquid staking de <strong>Lido<\/strong>, plut\u00f4t que le LDO, le jeton de gouvernance du protocole. L&rsquo;objectif \u00e9tait de r\u00e9pliquer le cours du stETH apr\u00e8s d\u00e9duction des frais, tout en accumulant les r\u00e9compenses de staking, en utilisant un indice de r\u00e9f\u00e9rence MarketVector dans une structure passive.<\/p><p>Si les produits d&rsquo;investissement bas\u00e9s sur Ethereum restent sensibles \u00e0 la demande institutionnelle et aux flux des ETF, cette proposition abandonn\u00e9e n&rsquo;aura finalement jamais int\u00e9gr\u00e9 le march\u00e9 actif. Les flux r\u00e9cents des ETF Ethereum et la dynamique des prix servent ici de contexte global.<\/p><h2>Composition de l&rsquo;ETF VanEck Lido : ce qu&rsquo;il aurait contenu<\/h2><span class=\"replacer\"><\/span><p>Les utilisateurs de Lido d\u00e9posent de l&rsquo;ETH via le protocole et re\u00e7oivent en \u00e9change du stETH, qui repr\u00e9sente leur position sous-jacente ainsi que les r\u00e9compenses de staking associ\u00e9es. Gr\u00e2ce \u00e0 un m\u00e9canisme de \u00ab\u00a0rebasing\u00a0\u00bb, la quantit\u00e9 de stETH d\u00e9tenue peut augmenter \u00e0 mesure que la position g\u00e9n\u00e8re des int\u00e9r\u00eats.<\/p><p>Cette structure diff\u00e8re radicalement de la d\u00e9tention d&rsquo;ETH au comptant (spot) : le fonds propos\u00e9 aurait expos\u00e9 les investisseurs au stETH et \u00e0 ses m\u00e9canismes de march\u00e9 propres, sans r\u00e9pliquer directement un fonds Ether conventionnel. Le prospectus identifiait plusieurs risques, notamment les p\u00e9nalit\u00e9s de validateur (slashing), les failles des smart contracts, les contraintes de liquidit\u00e9 et la volatilit\u00e9 du march\u00e9 d&rsquo;Ethereum.<\/p><figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/cryptonews.com\/wp-content\/uploads\/sites\/3\/2026\/10\/content-img-1-19.jpg\" alt=\"VanEck a demand\u00e9 \u00e0 la SEC de retirer sa proposition d'enregistrement pour un ETF Lido stETH. Le fonds n'a jamais \u00e9t\u00e9 lanc\u00e9 apr\u00e8s une attente d'un an.\"><\/figure><p>En ao\u00fbt 2025, une d\u00e9claration du personnel de la SEC avait abord\u00e9 certains dispositifs de liquid staking, distinguant les activit\u00e9s qualifi\u00e9es de celles impliquant des efforts manag\u00e9riaux ou entrepreneuriaux. Cette orientation \u00e9tait toutefois conditionnelle et ne garantissait en rien l&rsquo;approbation automatique des ETF d\u00e9tenant des jetons de staking.<\/p><p>Bien que le r\u00e9seau Ethereum continue d&rsquo;\u00e9voluer, notamment via des tests sur la limite de gaz, le d\u00e9veloppement technologique seul ne suffit pas \u00e0 lever les risques r\u00e9glementaires ou op\u00e9rationnels mentionn\u00e9s dans le prospectus.<\/p><h2>Un soutien historique de la part de Lido<\/h2><span class=\"replacer\"><\/span><p>La <strong>Lido Ecosystem Foundation<\/strong> avait accueilli favorablement la demande de VanEck en octobre 2025, y voyant un pont potentiel entre le staking liquide et les march\u00e9s financiers traditionnels. Kean Gilbert, alors responsable des relations institutionnelles de la fondation, avait soulign\u00e9 l&rsquo;importance des produits de staking pour les institutions.<\/p><p>Lors de cette annonce en octobre 2025, Lido rapportait que ses utilisateurs avaient gagn\u00e9 plus de 2 milliards de dollars en r\u00e9compenses de staking depuis le lancement, avec une valeur totale verrouill\u00e9e (TVL) proche de 40 milliards de dollars. VanEck n&rsquo;a pas pr\u00e9cis\u00e9 si elle envisageait de revenir ult\u00e9rieurement avec un autre produit li\u00e9 \u00e0 Lido ou au staking.<\/p>","protected":false},"excerpt":{"rendered":"<p>VanEck retire officiellement sa demande d&rsquo;ETF Lido Staked Ethereum aupr\u00e8s de la SEC, marquant un tournant pour les produits d\u00e9riv\u00e9s du staking.<\/p>\n","protected":false},"author":605,"featured_media":183444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8,1],"tags":[],"editors":[2551],"sponsored_companies":[],"class_list":["post-183446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news","category-news","editors-julien-leroy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>VanEck abandonne son projet 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