Grayscale has made history by distributing the first‑ever staking rewards from a U.S. spot ETP, paying Ethereum ETF shareholders about $0.08 per share in cash. The payout reflects staking rewards earned between October 6 and December 31.Grayscale has made history by distributing the first‑ever staking rewards from a U.S. spot ETP, paying Ethereum ETF shareholders about $0.08 per share in cash. The payout reflects staking rewards earned between October 6 and December 31.

Grayscale Distributes First‑Ever Staking Rewards for a U.S. Spot ETP

2026/01/06 23:16
News Brief
Grayscale has made history by distributing the first‑ever staking rewards from a U.S. spot ETP, paying Ethereum ETF shareholders about $0.08 per share in cash. The payout reflects staking rewards earned between October 6 and December 31.

Grayscale has made history by distributing the first‑ever staking rewards from a U.S. spot ETP, paying Ethereum ETF shareholders about $0.08 per share in cash. The payout reflects staking rewards earned between October 6 and December 31.

Why This Is a Milestone

  • First U.S. spot ETP to pass through staking rewards
  • Confirms that staking income can be ETF‑compatible
  • Moves crypto ETPs closer to yield‑bearing investment products

Until now, U.S. spot crypto ETFs provided only price exposure—no protocol yield.

How It Worked

  • ETH held by the ETF was staked on Ethereum
  • Rewards accrued over the period were converted and distributed in cash
  • Shareholders received the payout without managing validators or slashing risk

This mirrors how traditional funds distribute dividends or interest.

Why Cash Distribution Matters

  • Avoids tax and custody complications of in‑kind crypto payouts
  • Fits cleanly into existing brokerage and fund‑account systems
  • Makes staking yield accessible to institutional and retail investors alike

It also sets a template other issuers can follow.

Broader Implications

  • Strengthens Ethereum’s case as a yield‑generating network
  • May pressure other ETF issuers to enable staking
  • Could influence how regulators view staking as income vs. securities activity

If adopted widely, staking could materially change how investors value ETH ETFs.

Bottom Line

Grayscale’s $0.08 per‑share staking payout marks a turning point for U.S. crypto ETFs, proving that protocol yield can flow through regulated investment vehicles. It’s a small distribution—but a big precedent for Ethereum and the future of crypto ETFs.

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