Grayscale Investments, the world’s largest crypto-focused asset manager, has made a major announcement, not only for its operations but also for the broader cryptocurrency market. The firm revealed on Monday that its Ethereum Trust ETF (ETHE) and Ethereum Mini Trust ETF (ETH) have become the first US spot ETFs to incorporate staking.
Peter Mintzberg, Chief Executive Officer (CEO) of Grayscale Investment, emphasized the significance of this development, stating:
Staking in our spot Ethereum and Solana funds is exactly the kind of first-mover innovation Grayscale was built to deliver. As the #1 digital asset-focused ETF issuer in the world by AUM, we believe our trusted and scaled platform uniquely positions us to turn new opportunities like staking into tangible value potential for investors
The asset manager is committed to educating investors on this new feature, having recently published a report titled Staking 101: Secure the Blockchain, Earn Rewards, which outlines the mechanics of staking, its importance, and the benefits for participants.
Grayscale intends to extend staking capabilities to additional products while prioritizing education, transparent reporting, and an investor-first approach.
This is part of a new regulatory approach by US agencies under the leadership of President Donald Trump’s administration, which has significantly promoted the adoption and legitimacy of cryptocurrencies and related products in the country.
As of this writing, ETH trades at $4,715, while recording gains of 4% and 13% in the past 24 hours and seven days, respectively. This positions the leading altcoin just 4.8% below all-time high records.
Similarly, the price of SOL has surged by 3% and 12% within the same time frames while grappling with its nearest resistance level of $240. The token remains 20% below its peak of $293.
Featured image from DALL-E, chart from TradingView.com
