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2h ago

Grayscale First to Add Staking to U.S. Spot Ethereum ETFs, Activates Solana Trust

Rewards flow into fund NAV via institutional custodians, setting a template competitors may try to match pending SEC review.

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

  • Grayscale enabled passive staking for its Ethereum Trust ETF (ETHE) and Ethereum Mini Trust ETF (ETH), the first U.S.-listed spot crypto ETPs to do so, and turned on staking for the over-the-counter Grayscale Solana Trust (GSOL).
  • The firm will route staking through institutional custodians such as Coinbase Custody or BitGo and a diversified validator set including providers like Kiln and Figment.
  • Staking rewards will accrue within each fund’s net asset value rather than being paid out, a design aimed at tax efficiency and preserving liquidity for redemptions.
  • GSOL remains OTC-traded with an exchange uplisting application on file, positioning it to be among the first U.S. Solana spot ETPs with staking if regulators approve.
  • Grayscale, managing about $35 billion in assets and holding over 1 million ETH in ETHE as of Oct. 3, moves ahead as rival issuers await SEC decisions on their own staking proposals.