Grayscale Issues First US Ethereum ETF Staking Payout – $9.4M Cash, Yield War Next?
Grayscale has issued the first-ever staking rewards from a U.S.-listed spot crypto ETP, bridging on-chain yield with conventional monetary merchandise. In a press release dated January 5, 2026, the asset supervisor introduced that its Ethereum Staking ETF (ETHE) pays shareholders $0.083178 per share.
The complete payout will quantity to roughly $9.4 million. The distribution covers rewards earned by the fund between October 6, 2025, and December 31, 2025. Grayscale offered the accrued ETH rewards and distributed the proceeds in money, making certain the fund’s underlying Ether holdings weren’t decreased.
As of press time, ETHE is buying and selling round $26.47, whereas Ethereum (ETH) was priced at approximately $3,299.
“Distributing staking rewards to ETHE shareholders is a landmark second, not only for Grayscale, however for the whole Ethereum neighborhood and ETPs at giant,” stated Peter Mintzberg, CEO of Grayscale.
What It Means for U.S. Crypto ETFs
This distribution is a structural shift for crypto-based monetary merchandise within the U.S. It transforms a spot ETH ETF from a pure price-appreciation automobile right into a yield-bearing instrument inside a regulated wrapper.
The cash-based payout mannequin simplifies tax reporting for institutional and retail buyers, treating the reward extra like a standard dividend. This improvement might appeal to a brand new class of income-focused buyers who had been beforehand unable or unwilling to have interaction with on-chain staking instantly.
The transfer establishes a aggressive benchmark. Competitors like BlackRock and Fidelity are actively exploring including staking to their very own Ethereum ETF products. BlackRock registered a staked Ethereum belief in November 2025, and Fidelity has additionally filed so as to add staking capabilities to its fund. This units the stage for a possible “yield battle” amongst ETF issuers as they compete for property underneath administration.
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