Grayscale declares first staking payout for US Ethereum ETP

Grayscale has announced the first staking rewards distribution for its US-listed Ethereum Staking exchange-traded product (ETP), the Grayscale Ethereum Trust ETF (ETHE). Shareholders will receive approximately $0.08 per share, paid in cash, derived from the sale of on-chain staking rewards, based on Monday's closing holdings and paid out Tuesday. Grayscale enabled staking for its Ethereum products on October 6, utilizing institutional custodians and third-party validators, making ETHE and the Grayscale Ethereum Mini Trust ETF (ETH) the first US spot crypto ETPs to incorporate Ether staking. Staking rewards are converted to dollars rather than distributed as Ether (ETH). Grayscale's funds operate under a structure outside the Investment Company Act of 1940, allowing for staking. This development precedes potential staking integration in other pending US spot Ether ETFs, as firms like Fidelity and 21Shares have filed proposals to add staking to their respective funds.

(Source：Cointelegraph)