Grayscale Launches First U.S. Spot Crypto ETPs With Staking for Ethereum and Solana
A new chapter in the merger between traditional finance and blockchain opened today as Grayscale became the first U.S. firm to enable staking within spot crypto exchange-traded products.
The firm announced that both its Ethereum Trust ETF (ETHE) and Ethereum Mini Trust ETF (ETH) will now offer investors staking rewards – something no American-listed crypto ETP had done before.
The update doesn’t stop there. Grayscale also activated staking for its Solana Trust (GSOL), allowing investors to earn Solana yields through standard brokerage platforms rather than on-chain wallets. Once approved for uplisting as an exchange-traded product, GSOL could emerge as one of the first regulated Solana ETPs in the United States to integrate staking. Crypto reporter Eleanor Terrett called the rollout “a big day for crypto on Wall Street,” noting that it bridges the income potential of decentralized finance with the accessibility of traditional markets.
While this move signals a huge step forward, it also raises regulatory implications. Grayscale has filed new registration statements for its trusts with the U.S. Securities and Exchange Commission (SEC), though these funds aren’t governed by the stricter Investment Company Act of 1940 – the same framework that oversees conventional ETFs and mutual funds. That puts them in a unique category: accessible to investors, but not bound by every traditional rulebook.
The timing couldn’t be more strategic. Just last month, the SEC postponed rulings on similar staking requests from heavyweights BlackRock, Fidelity, and Franklin Templeton, leaving Grayscale as the first mover in this newly forming sector. Its decision to push ahead could set a precedent for how staking is integrated into regulated financial products going forward.
Meanwhile, the flood of crypto ETF filings shows no signs of slowing. Industry analyst Nate Geraci revealed that more than 30 new crypto-focused ETF applications hit the SEC’s desk in a single afternoon on October 4, hinting at a brewing arms race among financial institutions eager to capture the next wave of digital asset inflows.
By blending staking returns with familiar ETF structures, Grayscale has managed to do what few thought possible – introduce passive crypto income to Wall Street’s most conventional investors. Whether this innovation sparks a new wave of ETP evolution or regulatory scrutiny, one thing is clear: the line between DeFi and traditional finance just blurred in a very big way.
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