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Grayscale, the world’s largest digital asset-focused investment platform with over $35 billion in assets under management (AUM) has announced a major industry first: Grayscale Ethereum Trust ETF (Ticker: ETHE) and Grayscale Ethereum Mini Trust ETF (Ticker: ETH) have become the first U.S.-listed spot crypto ETPs to enable staking.
Grayscale also revealed that Grayscale Solana Trust (GSOL) has activated staking, giving investors the means to access SOL staking through a traditional brokerage account. Pending regulatory approval of GSOL’s uplisting as an exchange-traded product, it is expected to become one of the first spot Solana ETPs with staking.
In a tweet, crypto reporter Eleanor Terrett makes this development known, calling it a "big day for crypto on Wall Street," adding that "Grayscale’s ETHE and ETH ETPs will add staking this morning at market open and that GSOL, the company’s Solana trust, has also activated staking."
In this respect, registration statements have been filed with the SEC by ETHE, ETH and GSOL for these offerings. In context, ETHE and ETH are exchange-traded products not registered under the Investment Company Act of 1940 (the "40 Act") and are therefore not subject to the same regulations and protections as 40 Act-registered ETFs and mutual funds.
Last month, the SEC delayed decisions on applications to allow staking for Ethereum ETFs issued by BlackRock, Fidelity and Franklin Templeton.
ETF filing spree continues
Meanwhile, new altcoin-based ETF applications continue to be submitted on a continual basis as major firms show their eagerness to list funds that offer exposure to cryptocurrencies other than Bitcoin and Ethereum.
Last week, Novadius Wealth President Nate Geraci revealed over 30 crypto-related ETFs filed with the SEC on the afternoon of Oct. 4, noting it might be just the beginning: "Any crypto ETF you can possibly imagine will be filed with the SEC over next several months. You all have no idea what’s coming," he added.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team