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Cathie Wood: The surge in demand for Ethereum stake redemptions may be due to Robinhood offering 2% rewards.
PANews July 26 news, in response to the community's questions about the "sudden surge in demand for Ethereum staking redemptions," ARK Invest CEO Cathie Wood replied: "Robinhood offers a 2% matching reward for crypto asset transfers, venture capitalists and other investors are transferring staked ETH to treasury companies (DATs) in order to double their funds after the lock-up period ends. Similar to $MSTR and $BMNR, treasury company stocks are a way for brokerage advisors to provide clients with BTC and ETH investment opportunities."