Grayscale introduces staking for Ethereum and Solana spot crypto ETPs

Grayscale has introduced a new staking feature for its Ethereum and Solana exchange-traded products (ETPs), becoming the first U.S.-listed spot crypto ETPs to offer this opportunity. Investors now have the ability to earn rewards by staking their assets in the Grayscale Ethereum Trust (ETHE), Grayscale Ethereum Mini Trust (ETH), and Grayscale Solana Trust (GSOL).

The Grayscale Ethereum Trust (ETHE) currently holds around $4.82 billion in assets, while Grayscale Ethereum Mini Trust (ETH) has over $3 billion in assets, according to data from SoSoValue. These ETPs provide investors with a way to stake Ether and Solana (SOL) through traditional brokerage accounts.

It’s important to note that ETHE and ETH are not subject to the regulations of standard ETFs or mutual funds under the Investment Company Act of 1940. However, Grayscale Solana Trust (GSOL) is awaiting regulatory approval to become an ETP and is currently trading on the OTC Markets.

By incorporating staking within publicly listed, spot-based ETPs, Grayscale is offering investors a convenient way to earn rewards while maintaining their exposure to Ethereum and Solana. This feature allows investors to access staking rewards through their existing traditional brokerage accounts without needing to take any additional actions.

Zach Pandl, Grayscale’s Head of Research, highlighted the benefits of staking, stating that it not only supports network security but also provides investors with a new source of income. As the Federal Reserve continues to cut rates, investors are seeking alternative ways to earn returns, making staking a more appealing option.

Grayscale, founded in 2013, currently manages approximately $35 billion in assets and is the issuer of the Grayscale Bitcoin Trust (GBTC), which has $21.7 billion in net assets under management. This recent launch of staking for Ethereum and Solana ETPs is part of Grayscale’s efforts to expand and diversify its product offerings.

Earlier this year, the firm introduced a new investment trust for $IP, the native token of the Story Network. Additionally, in July, the SEC approved Grayscale’s proposal to convert its Digital Large Cap Fund into a spot ETF, providing diversified exposure to major digital assets like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA).

Overall, Grayscale’s new staking feature for Ethereum and Solana ETPs offers investors a unique opportunity to earn rewards while maintaining exposure to these digital assets, further showcasing the firm’s commitment to providing innovative investment solutions in the crypto sector.