Solana News Today: Grayscale's Staking ETPs: First U.S. Yield Without Asset Ownership

Grayscale Investments has introduced staking for its U.S.-listed Ethereum and Solana investment products, marking a first in the crypto market. The firm announced that its Ethereum Trust ETF (ETHE) and Ethereum Mini Trust ETF (ETH) are now the first spot crypto exchange-traded products (ETPs) in the U.S. to enable staking. Additionally, the Grayscale Solana Trust (GSOL) has activated staking, offering investors access to Solana (SOL) staking through traditional brokerage accounts. Pending regulatory approval, GSOL is expected to transition to an ETP, becoming one of the first spot Solana ETPs with staking capabilities Grayscale Launches First Staking Spot Crypto ETPs in U.S.^[1].

The move expands Grayscale's offerings to include passive staking, where assets are secured through institutional custodians and a network of validator providers. This approach aims to enhance network resilience while aligning with the funds' core objectives of providing exposure to Ethereum and Solana. ETHE and ETH offer spot Ether exposure, while GSOL provides spot Solana exposure. Grayscale emphasizes that staking allows investors to participate in blockchain security and earn rewards without directly holding the underlying assets Grayscale Adds Staking to Ethereum and Solana Investment^[2].

Grayscale's CEO, Peter Mintzberg, highlighted the innovation as a milestone for the firm, which manages $35 billion in assets under management (AUM), the largest in the digital asset sector. He noted that the platform's scale and credibility position it to translate staking opportunities into tangible value for investors. The firm also released a report, Staking 101: Secure the Blockchain, Earn Rewards, to educate investors on the mechanics and benefits of staking Grayscale Launches First Staking Spot Crypto ETPs in U.S.^[1].

The staking feature introduces significant risks, however. ETHE and ETH are not registered under the Investment Company Act of 1940, meaning they lack the regulatory protections of traditional ETFs. GSOL, currently quoted on OTC Markets, carries heightened risk due to Solana's relatively recent technological development. The firm warns that investors could lose their entire investment in GSOL, as the Solana protocol's mechanisms may not function as intended Grayscale Launches First Staking Spot Crypto ETPs in U.S.^[1].

Grayscale plans to extend staking to additional products as the digital asset ecosystem evolves. The firm remains committed to transparent reporting and investor education, with future initiatives likely to include expanded educational resources and compliance-focused updates. This strategy aligns with broader institutional trends in crypto adoption, where security, scalability, and regulatory clarity are prioritized Institutional Adoption of Ethereum – The Next Big Trade for TradFi^[3].

The launch underscores Grayscale's role in bridging traditional finance and crypto markets. By integrating staking into ETPs, the firm addresses growing demand for yield-generating crypto investments while navigating regulatory complexities. However, the absence of staking in U.S. spot ETFs like BlackRock's ETHE highlights a structural gap in capital flows, with yield-sensitive mandates potentially favoring non-U.S. products How Institutional Investors Are Redefining Crypto Markets^[4].