(Bloomberg) -- Cboe BZX Exchange Inc. is asking regulators to open the door for staking on a number of Ether-based exchange-traded funds, joining another platform in the race for investors to potentially earn passive income on their crypto holdings.

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Cboe’s filing this week with the US Securities and Exchange Commission is appealing for the approval of staking for Fidelity’s Ethereum Fund. The company had previously submitted similar paperwork for the 21Shares Core Ethereum ETF. Another exchange, NYSE Arca Inc., has asked regulators for the staking option on Ethereum products from Grayscale Investments.

Meanwhile, the crypto firm Bitwise is exploring the feasibility of filing for something similar on NYSE.

“ETPs should stake. We’ve seen in Europe that staking ETPs work and help increase investor returns and boost network security,” said Bitwise’s Matt Hougan, whose firm bought an Ethereum staking service at the end of last year. “It’s something we’re working on aggressively” in the US.

The movement to allow staking — a process that involves investors pledging their crypto holdings to help validate transactions on the blockchain, which in turn helps them earn more tokens — is picking up steam as the Trump administration embraces the digital-assets industry and pledges continued support for it.

Many crypto-industry participants are pointing to a number of ventures and proposals — including the appointment of the first-ever crypto czar, as well as the announcement of a Bitcoin strategic reserve, among other things — as signals that President Donald Trump is taking the sector seriously. Meanwhile, the interim chief of the US Securities and Exchange Commission said recently that he expects a slowdown in rule-making around crypto.

This week’s announcement from Cboe helped drive Ether 5% higher to around $1,950. Staked Ether currently earns roughly 3% in annual rewards, according to the site Staking Rewards. About a third of all Ether — which sports a market value of around $234 billion — has been staked, data from Coinbase show.

There are at least nine Ether-based ETFs in the US, according to a tally from Bloomberg Intelligence. The funds, which started to trade last year, collectively command about $7 billion in assets. Staking could help drive new flows toward them, some analysts argue.