Ethereum News Today: Grayscale's Staking ETPs Redefine Crypto as Regulated Income Tool

Grayscale Investments has launched the first U.S.-listed spot exchange-traded products (ETPs) with staking capabilities, marking a significant development in the regulated digital asset market. The Ethereum Trust ETF (ETHE) and Solana Trust (GSOL) now enable investors to access staking yields directly through traditional brokerage accounts, offering exposure to Ethereum and Solana while generating passive incomeWhy Grayscale's First US Staking ETPs Are a Big Step For Crypto^[2]. This innovation positions Grayscale as the leading digital-asset ETF issuer, managing $35 billion in assets under managementWhy Grayscale's First US Staking ETPs Are a Big Step For Crypto^[2]. The ETPs are structured to stake Ether and Solana through institutional custodians, with rewards accruing to the funds' net asset value (NAV) to maintain tax efficiencyWhy Grayscale's First US Staking ETPs Are a Big Step For Crypto^[2].

The Ethereum Trust ETF (ETHE) uplisted to NYSE Arca in July 2024 as a spot Ether ETP, with a total expense ratio of 2.50% and $4.53 billion in assets under management as of September 2025Grayscale Ethereum Trust (ETHE)^[1]. While Ethereum's staking yield averages around 3%, Grayscale's ETPs offer an effective yield near 2% due to partial staking and liquidity requirements to support redemptionsWhy Grayscale's First US Staking ETPs Are a Big Step For Crypto^[2]. This approach aligns with Ethereum's withdrawal delay mechanism, which limits full staking exposure. For Solana, the GSOL product, pending regulatory approval for uplisting, is expected to replicate this model, potentially becoming one of the first Solana staking ETPs in the U.S. marketWhy Grayscale's First US Staking ETPs Are a Big Step For Crypto^[2].

The launch reflects growing institutional confidence in staking, with nearly 36 million ETH-about 30% of the supply-currently stakedWhy Grayscale's First US Staking ETPs Are a Big Step For Crypto^[2]. On-chain data indicates increased Ethereum supply base tightening, as staking participation reduces liquid circulation and supports price stabilityWhy Grayscale's First US Staking ETPs Are a Big Step For Crypto^[2]. Analysts highlight that staking-enabled ETPs provide a structural advantage over Bitcoin ETFs, which only offer price exposure, by generating yieldWhy Grayscale's First US Staking ETPs Are a Big Step For Crypto^[2]. This differentiation is critical as institutional investors seek diversified income streams in a market where Ether's performance lags Bitcoin.

However, regulatory challenges persist. The SEC has delayed its decision on Grayscale's proposal to enable staking in ETHE and ETH, pushing the review to June 2025 and a final ruling to October 2025SEC Stalls on Staking Decision: Final Deadline for Grayscale ETH ETF Stills October 2025^[3]. This delay affects similar proposals from WisdomTree and VanEck, leaving U.S. investors without access to ETH staking rewards while jurisdictions like Hong Kong, Canada, and Europe permit staking in ETF productsSEC Stalls on Staking Decision: Final Deadline for Grayscale ETH ETF Stills October 2025^[3]. Grayscale's CEO emphasized that the initiative underscores the firm's commitment to innovation, leveraging its expertise as a leading crypto asset managerWhy Grayscale's First US Staking ETPs Are a Big Step For Crypto^[2].

The broader staking landscape shows Ethereum's staking rewards rate at 3% as of September 2025, lower than protocols like Solana (5–7%) and Cosmos (7–10%). Despite this, Ethereum's dominance in the Proof-of-Stake (PoS) market-accounting for 57% of PoS value-highlights its foundational role in securing the network. Grayscale's ETPs align with Ethereum's post-Merge transition to PoS, which reduced energy consumption by over 99%. Analysts suggest that institutional adoption of staking ETPs could further integrate crypto into mainstream portfolios, leveraging yield-bearing assets as regulated income instrumentsWhy Grayscale's First US Staking ETPs Are a Big Step For Crypto^[2].