Leading crypto asset manager Grayscale is set to add staking features to its Ethereum and Solana investment products.
According to the announcement, the staking feature will be introduced to the Grayscale Ethereum Mini Trust ETF (ETH), the Grayscale Ethereum Trust (ETHE), and the Grayscale Solana Trust (GSOL).
All three products are expected to begin staking at today’s market open, ushering in a new phase of institutional adoption and innovation in the U.S. crypto investment landscape.
Grayscale to Introduce Staking to Solana and Ether Products
With this addition, ETHE and ETH, both trading on NYSE Arca, will become the first U.S.-listed crypto ETFs to offer staking. At the same time, GSOL will give investors one of the few traditional avenues to participate in Solana staking through a standard brokerage account.
For context, staking allows investors to lock up their crypto holdings to help secure blockchain networks in exchange for passive rewards. This practice is similar to earning interest on traditional savings accounts.
Notably, ETHE investors will receive their staking rewards directly, while Grayscale will instead incorporate the yields into the share prices of ETH and GSOL over time.
Grayscale’s ETF Plan for Solana Faces Delay
The development comes as Grayscale awaits the SEC’s decision on its proposal to convert the Grayscale Solana Trust into a spot-based exchange-traded fund (ETF). The commission was initially expected to issue its decision this month.
However, due to the recent U.S. government shutdown, which has affected several federal agencies, including the SEC, the regulator is not expected to rule on Grayscale’s conversion request as things stand now until the shutdown is resolved.
Meanwhile, the Grayscale Mini Ethereum ETF currently manages $3.29 billion in assets under management (AUM), while the Grayscale Ethereum Trust holds approximately $4.81 billion in assets. The Grayscale Solana Trust also has an AUM of about $122.51 million.
Evans Kelvin
