Grayscale Investments has made a major move in U.S. crypto markets by enabling staking for its Ethereum-based exchange-traded products (ETPs).
The Grayscale Ethereum Trust ETF (ETHE) and the Grayscale Ethereum Mini Trust ETF (ETH) are now the first U.S.-listed spot crypto ETPs to allow staking.
ETHE and ETH are not registered under the Investment Company Act of 1940, meaning they do not carry the same regulatory protections as traditional ETFs, such as strict disclosure requirements, diversification standards, and oversight by the SEC. In practice, investing in ETPs carries higher risk, and your investment is not the same as directly holding the underlying cryptocurrencies.
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Grayscale will stake passively through a network of institutional custodians and diversified validator providers, helping secure the Ethereum network and supporting long-term protocol resilience.
The firm also announced that its Grayscale Solana Trust (GSOL) has activated staking, giving investors one of the few ways to access Solana staking through a brokerage account.
Pending regulatory approval of GSOL’s uplisting as an ETP, it is expected to become one of the first spot Solana ETPs with staking. Combined, ETHE, ETH, and GSOL currently manage approximately $8.25 billion in assets.
With around $35 billion in total assets under management, Grayscale plans to expand staking to additional products while continuing to emphasize transparent reporting, investor education, and security.
Launching a U.S. spot crypto ETP with staking took time due to regulatory and operational hurdles. The SEC and other regulators have historically been cautious, citing concerns over market manipulation, custody, and investor protection. Staking adds another layer of complexity with rewards, compliance, and risk management , requiring robust infrastructure before launch.
Why This Matters
Grayscale’s move highlights the growing trend of blending traditional investment vehicles with crypto features. As the first U.S. issuer to offer staking on spot crypto ETPs, Grayscale sets a precedent for future developments in this area.
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People Also Ask:
A Grayscale spot crypto ETP is an exchange-traded product that directly holds cryptocurrencies like Ethereum or Solana, allowing U.S. investors to gain exposure without owning the underlying assets.
Staking allows investors to earn rewards on the underlying crypto assets held by the ETP. Grayscale handles staking through institutional custodians and validator networks, simplifying participation for investors.
Grayscale has received approval to offer staking for its Ethereum-based ETPs (ETHE and ETH) and its Solana Trust (GSOL), making them the first U.S. spot crypto ETPs with this feature.
No. While similar in structure, Grayscale spot crypto ETPs are not registered under the Investment Company Act of 1940, so they lack traditional ETF protections and carry unique risks.
Investing in Grayscale spot crypto ETPs involves risks such as market volatility, potential loss of principal, and differences from directly holding cryptocurrencies. Staking adds additional considerations related to network performance and reward distribution.
