Grayscale’s Ethereum Staking ETF Payout Makes History

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Grayscale Makes History with First Ethereum Staking ETF Payout

Written by Aaron S.,

Editor-In-Chief

Last Updated: January 06, 2026

Key Takeaways

Grayscale paid $0.083178 per share in cash from Ethereum staking rewards earned between October 2025 to December 2025, without selling ETH;
The payout marks the first time US investors received on-chain staking returns through a structured fund;
The fund, not covered by the Investment Company Act of 1940, carries a higher risk but highlights the growing integration of staking in ETFs.

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Grayscale Makes History with First Ethereum Staking ETF Payout

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On January 5, Grayscale began distributing the Ethereum ETH $3,161.22 staking exchange-traded fund (ETF) in cash.

The distribution amounted to $0.083178 per share and related to rewards earned between October 6 and December 31, 2025.

The payout was executed by selling the staking returns and delivering the proceeds in cash, without reducing the fund's Ethereum holdings.

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The fund is not registered under the Investment Company Act of 1940, so it does not carry the same level of regulatory safeguards as traditional ETFs. Investments in such products carry heightened risk.

Staking capability in the fund was enabled in October 2025. Following that update, both the main fund and its companion product received rebranding in early January 2026 to clarify their staking features.

Grayscale manages roughly $31 billion in assets under management, and this payout marked the first time on-chain staking returns flowed through to US investors in a structured product.

The payout represents a shift in how digital-asset investment products work, which blends Ethereum's staking mechanism with traditional exchange-traded formats.

Several other major asset managers, including BlackRock and Fidelity, have filed proposals to incorporate staking into their spot Ethereum products, though none have yet distributed staking returns to investors.

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