Grayscale, the world's largest digital asset-focused investment platform with over $35 billion in assets under management, has introduced staking for its exchange-traded products (ETPs), becoming the first US-based crypto fund issuer to offer staking-based passive income opportunities. The Grayscale Ethereum Trust ETF (ETHE) and Grayscale Ethereum Mini Trust ETF (ETH) are now the first US-listed spot crypto funds to enable staking, a development the company calls "another first-mover milestone."
Additionally, Grayscale's Solana Trust (GSOL) has activated staking and is awaiting regulatory approval for uplisting to an ETP, which would position it as one of the first spot Solana ETPs with staking capabilities. Grayscale aims to provide investors exposure to the long-term value accrual of Ethereum and Solana networks while maintaining the funds' core objectives.
In a statement, Grayscale CEO Peter Mintzberg highlighted the innovation, saying, "Staking in our spot Ethereum and Solana funds is exactly the kind of first mover innovation Grayscale was built to deliver." The ETHE and ETH ETPs are registered under the Investment Company Act of 1940, meaning they are not subject to the same regulations as crypto ETFs under the same act, and investments in them are not direct holdings of digital assets.
This announcement follows recent SEC delays on staking approvals for Ethereum ETFs from firms like BlackRock and Fidelity, underscoring Grayscale's competitive edge in the evolving crypto ETP landscape.