SEC to Review Grayscale's Ethereum Staking Application
Date: 2025-02-27 Author: Oliver Abernathy Categories: BUSINESS
The US Securities and Exchange Commission (SEC) has begun reviewing Grayscale's proposal, which provides for the staking option for the Grayscale Ethereum Trust ETF and Grayscale Ethereum Mini Trust ETF. The implementation of this initiative will allow the funds to participate in the validation of the Ethereum network, receiving rewards for staking ETH, which should increase profitability for shareholders.
The application notes that the introduction of staking will benefit investors, since funds will be able to earn additional ETH and more effectively track the profitability associated with asset management. At the same time, Grayscale will undertake all staking operations without involving coins from third-party companies. However, the document specifies that assets can be combined at the staking provider level. All funds will remain under the control of the funds and will be stored in wallets managed by Coinbase Custody Trust Company.
The SEC must issue a decision on this application within 45 days from the date of its publication in the federal register, which occurred on February 25. However, the regulator has the right to extend the review period to 90 days if it deems it necessary and provides the appropriate justification.
In parallel, the market is seeing renewed interest in staking. For example, the cryptocurrency exchange Kraken recently reopened access to this service for users from 37 US states. Now, platform clients can stake 17 different digital assets, including ETH, SOL, DOT, and ADA.
