Golden Finance reported that according to Cointelegraph, Ethereum co-founder Joe Lubin revealed that ETF issuers are actively preparing for a pledged Ethereum ETF and are confident of obtaining approval under the new SEC leadership. Lubin said that issuers are working hard to develop the best solutions for customers to deal with the complexities related to staking and penalty mechanisms, which will help improve the robustness of the ecosystem and customer diversity. Currently, approximately 33.7 million ETH (valued at approximately $113 billion) are pledged, accounting for 28% of the total supply. The SEC established a cryptocurrency working group on January 21, led by crypto-friendly commissioner Hester Peirce, to formulate a regulatory framework for digital assets. Peirce hinted in an interview in December that the new leadership may push for a more encryption-friendly policy.