Grayscale Set to Stake Its Ether Holdings Following Changes in SEC Policy

Grayscale, a cryptocurrency asset manager, is moving to stake some of its large Ether holdings, potentially becoming the first U.S. Ethereum ETF sponsor to stake its assets and test the SEC’s clarity on staking rules.

The news comes after the SEC approved Grayscale’s Digital Large Cap Fund, a crypto investment product that lets investors gain exposure to Bitcoin, Ether, XRP, Solana, and Cardano, without buying each one directly.

Grayscale Moves 40,000 ETH for Staking

Arkham Intelligence data shows that Grayscale transferred over 40,000 Ether to position for staking rewards. The move signals that U.S. regulators may allow staking in ETFs. 

In addition, the SEC also clarified that some forms of liquid staking may not fall under its oversight, opening the door for regulated funds to adopt staking.

Grayscale’s Ethereum Trust (ETHE), launched in 2017 as a private investment vehicle, currently holds over 1.06 million  ETH worth about $4.8 billion. In 2024, the firm introduced the cheaper Ethereum Mini Trust by spinning off parts of ETHE’s assets.

Although the SEC has delayed its decision on whether Grayscale’s funds can include ETH staking, the transfer suggests that the firm may be positioning ahead of the ruling, as no U.S. Ether ETFs offer staking.

U.S. Ether Staking May Drive Institutional Demand

Meanwhile, analysts say that if U.S. spot Ether ETFs are allowed to include staking, investors might start buying more, since they could earn rewards instead of just holding the crypto.

Markus Thielen, head of 10x Research, said in July that adding staking to Ethereum ETFs might strongly change the market.

The debate also hcomes amid a surge in spot ETF inflows this year, while the amount of ETH in exchanges dropped to its lowest level in three years, mainly because companies and ETFs are holding more of it.