Grayscale Investments has officially declared the first staking payout for its Grayscale Ethereum Staking ETF (ETHE), marking a significant milestone for U.S. crypto investors. The announcement, made on January 5, 2026, signifies the first time a U.S.-listed spot crypto Exchange Traded Product (ETP) has distributed staking rewards to its shareholders.

The distribution, amounting to $9,397,326, will be paid out on January 6, 2026, to shareholders of record as of 4:00 p.m. New York City time on January 5, 2026. As a result, shareholders will receive $0.083178 per share held, reflecting proceeds from the fund's sale of staking rewards earned between October 6, 2025, and December 31, 2025.

In October 2025, Grayscale activated staking for its Ethereum products, positioning ETHE as the first Ethereum ETP in the U.S. to enable staking. To reflect this new capability, the Grayscale Ethereum Trust ETF was formally renamed "Grayscale Ethereum Staking ETF," effective January 5, 2026. The ticker symbol ETHE remains the same.

Grayscale's move to distribute staking rewards represents a shift in its product strategy. Previously, ETHE operated as a passive holding vehicle, acquiring and holding Ethereum. Following Ethereum's transition to a proof-of-stake consensus mechanism in 2022, these assets gained the ability to earn yield through staking. Now, Grayscale has implemented the infrastructure to participate in Ethereum staking and distribute the rewards.

CEO of Grayscale, Peter Mintzberg, stated that distributing staking rewards to ETHE shareholders is a landmark moment for Grayscale, the Ethereum community, and ETPs. He added that Grayscale is reinforcing its role as a leader in bringing digital-asset capabilities into the ETP.

Ethereum's proof-of-stake system involves participants, known as validators, staking ETH to secure the network and earning rewards in additional ETH. For entities like Grayscale, staking the ETH holdings of the ETHE trust generates a substantial yield.

Grayscale will distribute staking rewards periodically, potentially quarterly, with shareholders able to choose to receive distributions in cash or additional shares of ETHE. This development is generally viewed as positive for ETHE's valuation.

The integration of staking into a U.S.-listed vehicle enhances the value proposition for investors and potentially attracts new capital. It also narrows the product gap between the U.S. and global markets and sets a new standard for Ethereum ETPs.

Grayscale's ability to launch this program suggests a matured regulatory dialogue, paving the way for other asset managers. Grayscale presented a plan emphasizing asset security, outlining how staked ETH remains under strict custody protocols.

While the fund holds Ether, investment in the fund is not a direct investment in Ether. Investments in the fund involve risk, including possible loss of principal. Staked Ether is subject to security breaches, network downtime, smart contract vulnerabilities, and validator failure, which can result in loss of staked Ether or rewards.