Grayscale Investments has introduced spot crypto exchange-traded funds in the U.S. with a staking feature. The launch will cover Ethereum Trust ETF (ETHE), Ethereum Mini Trust ETF (ETH), and Solana Trust (GSOL). Staking will allow investors to gain rewards while maintaining direct exposure to cryptocurrency tokens.
The products collectively have over $8.25 billion in assets under management for the U.S. clients. ETHE and ETH funds have been upgraded to include staking functionality. GSOL is currently traded over the counter (OTC) and has activated staking pending regulatory approval to be listed as an ETF.
Grayscale will stake via a network of custodians to maintain transparency
According to Grayscale’s press release, the staking feature will allow investors to passively earn rewards from the underlying proof-of-stake blockchains while preserving liquidity and accessibility through standard brokerage accounts. Spot crypto ETFs staking enhances yield potential and supports the security of the Ethereum and Solana networks by delegating assets to institutional-grade validator providers. Grayscale said it would stake through a network of custodians to maintain the funds’ transparency and long-term network support.
The SEC approved the spot Bitcoin ETFs earlier this year, allowing Grayscale to expand into the U.S. digital asset market beyond Bitcoin by offering investors exposure to yield-generating proof-of-stake networks, including Ethereum and Solana. Grayscale’s Ethereum Trust ETF (ETHE) and Ethereum Mini Trust ETF (ETH) manage more than $8.1 billion in net assets, providing spot Ether exposure to retail and institutional investors.
The Grayscale Solana Trust (GSOL) currently holds $122.5 million in assets under management, with each share representing approximately 0.0726 SOL. GSOL also tracks the CoinDesk SOL CCIXber Reference Rate, aggregating real-time pricing data from multiple trading platforms to provide an accurate market price benchmark. However, like other OTC products, GSOL’s market price has sometimes traded at a premium or discount to its net asset value.
Grayscale says staking will align NAV performance with market pricing.
Solana relies on a distributed network of validators who confirm transactions and secure the network. Staking SOL tokens helps maintain the blockchain’s integrity and earns protocol-level rewards for the participants. Grayscale’s introduction of staking into the GSOL structure enables institutional investors to benefit from this mechanism without directly handling digital wallets or validator operations.
The Grayscale Solana Trust charges a total expense ratio of 2.5% and currently trades under the ticker GSOL on OTC Markets Group. The firm revealed that staking could improve alignment between NAV performance and market pricing over time since the trust’s shares have not always matched the net value of its underlying assets, which is the introduction of. Alongside the launch of spot crypto ETPs, Grayscale published a training article to help its community members understand the concept of staking.
The SEC postponed rulings on similar staking requests from BlackRock, Fidelity, and Franklin Templeton, which has opened up Grayscale to be among the first entrants into the market. Cryptopolitan published a report concerning the postponement, saying the SEC had to evaluate staking risks, investor protection, and market stability before deciding.
Fenklin’s Ethereum stacking ETF was scheduled for November 13, while the Solana and XRP ETFs were pushed to November 14. BlackRock’s iShares Ethereum Trust awaits review on October 30. SEC Chair Paul Atkins announced a ‘project crypto’ initiative to create a standard regulatory framework for trading, lending, and staking digital assets.
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Source: https://www.cryptopolitan.com/grayscale-launches-spot-crypto-etps/
