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7h ago

Grayscale Moves ETH On-Chain as It Positions U.S. Ethereum ETF for Potential Staking

The SEC has not cleared staking for U.S.-listed ETH products, with fund sponsor amendments under review and signals suggesting a softer stance.

Ethereum supply vanishes as whales double their stash
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Overview

  • Blockchain data tracked by Arkham Intelligence shows more than 40,000 ETH moved from Grayscale wallets this week, a shift analysts flagged as preparatory for staking.
  • Grayscale has filed proposals to add staking to its funds, though any implementation would require regulatory approval that has not yet been granted.
  • If permitted, Grayscale would be the first U.S. Ethereum ETF sponsor to capture protocol staking rewards, a change that could reset competitive dynamics.
  • The asset manager oversees roughly 1–1.5 million ETH across vehicles, so staking even a portion could influence validator concentration and fund yield.
  • On-chain metrics point to three-year lows in exchange balances, and some market analysts warn options positioning could amplify ETH volatility if flows accelerate.