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2h ago

Grayscale First to Add Staking to U.S. Spot Crypto ETPs for Ethereum and Solana

The firm is integrating on-chain rewards into regulated funds through passive staking that credits returns to fund net asset value.

Grayscale adds staking feature to Ethereum, Solana ETF products - Details!
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Photo: Michael Nagle
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Overview

  • Staking is now live in Grayscale’s Ethereum Trust ETF (ETHE) and Ethereum Mini Trust ETF (ETH), with the Solana Trust (GSOL) activating staking while it remains OTC-listed.
  • Grayscale says assets will be staked passively via institutional custodians and a network of validator providers, and rewards will accrue to each fund’s NAV rather than pay out separately.
  • GSOL has a pending application to uplist as an exchange-traded product, which if approved would make it among the first listed Solana ETPs with staking in the U.S.
  • Operational constraints mean only portions of holdings are expected to be staked to preserve redemption liquidity on Ethereum, a setup that industry reporting says can produce roughly 2% effective yields.
  • Grayscale manages about $35 billion, with ETHE holding more than 1 million ETH and ranking as the second-largest U.S. spot ether ETF, and the company plans to expand staking to additional products.