Grayscale has expanded its offerings by incorporating staking into its ether and solana investment products, marking a pioneering move as the first company to provide staking through U.S.-listed spot crypto exchange-traded products (ETPs).
This enhancement affects the Grayscale Ethereum Trust ETF (ETHE), Ethereum Mini Trust ETF, and Grayscale Solana Trust (GSOL), which were previously accessible to investors.
The ETHE trust boasts approximately $4.82 billion in net assets, while the mini trust manages around $3.31 billion. Meanwhile, GSOL oversees about $122.5 million in assets under management.
With the introduction of staking, Grayscale offers investors an opportunity to earn rewards from blockchain networks without needing to directly own or manage the underlying cryptocurrencies.
Staking plays a crucial role in proof-of-stake blockchains like Ethereum and Solana. Participants who stake their funds contribute to transaction validation and network security while earning tokens as compensation.
Grayscale plans to engage in passive asset staking via institutional custodians and a network of validator providers, aiming for both network support and alignment with fund goals. While ETHE and ETH provide exposure to ether, GSOL focuses on solana and is currently traded over-the-counter.
If approved for exchange trading following conversion filings by Grayscale, GSOL could become one of the initial listed Solana ETPs featuring staking capabilities.