Grayscale has become the first manager to offer staking for ‘spot’ crypto ETFs in the United States, allowing investors to earn returns on Ethereum through ETHE and ETH, and soon on Solana through GSOL.
The company delegates a portion of its assets to institutional validators to redistribute staking rewards in ETH or SOL to ETF holders, while enhancing network security.
This development paves the way for a new generation of ETFs combining returns and direct exposure to crypto assets, marking a significant step towards integrating staking in traditional finance.
Historic Milestone for Spot ETFs: Staking Arrives
Grayscale has reached a significant milestone: its Ethereum Trust (ETHE) and Ethereum Mini Trust (ETH) funds have become the first US ‘spot’ crypto ETFs to activate staking. Investors holding these products can now generate additional returns directly from their positions in Ethereum. The digital asset management giant also announced the launch of staking for its Solana Trust (GSOL), pending regulatory approval to convert it into an ETF.
This move propels Grayscale to the forefront of a strategic race: that of returns on crypto ETFs. While most products governed by the Securities Act of 1933 have been limited to passive exposure, Grayscale introduces an active and rewarding dimension.
Returns and Security
By embracing staking, Grayscale is not only looking to increase the profitability of its funds. The group claims to enhance the security and resilience of the Ethereum and Solana networks, while actively participating in their operation. Specifically, the company delegates a portion of its assets to partner institutional validators. The rewards generated by the network, in ETH or SOL, are then redistributed to investors through the ETFs.
Staking in our Ethereum and Solana funds is exactly the kind of pioneering innovation Grayscale was created for.
Peter Mintzberg, CEO of the company
With over $20 billion in assets under management, Grayscale solidifies its position as one of the leaders in crypto ETFs.
Solana, the Next Step
While staking on Ethereum is now a reality, Solana could quickly follow suit. The Grayscale Solana Trust (GSOL) is already partially active, and its transformation into a spot ETF could make it the first American product offering native returns on SOL. The conversion is awaiting final SEC approval, but the momentum is clear: the regulator is moving towards a gradual acceptance of products incorporating on-chain return mechanisms.
Other players, including VanEck, Franklin Templeton, Fidelity, Invesco, Canary Capital, and Bitwise, have also filed similar requests. Expected approval after the reopening of federal institutions could trigger a wave of simultaneous approvals, marking a new stage in the institutionalization of staking.
Towards a New Generation of Crypto ETFs
Grayscale does not intend to stop there. The company plans to expand the model to other digital assets as the ecosystem evolves. For investors, this is a quiet revolution: American crypto ETFs are no longer just exposure vehicles but have become yield-generating products, at the intersection of traditional finance and Web3.
With this announcement, Grayscale redefines the role of crypto ETFs. Now, holding an Ethereum or Solana fund also means participating in the network’s security and being rewarded for it.
