The latest filing revealed that the New York Stock Exchange, Archipelago Exchange (NYSE Arca) filed a proposal to allow staking Grayscale’s Spot Ethereum exchange-traded funds (ETFs).
BREAKING: @NYSE FILES PROPOSAL TO ALLOW STAKING FOR @Grayscale SPOT $ETH ETF pic.twitter.com/WhP85xfDip
— DEGEN NEWS (@DegenerateNews) February 14, 2025
The filing reads: “Pursuant to the provisions of Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”),1 and Rule 19b-4 thereunder,2 NYSE Arca, Inc. (“NYSE Arca” or the “Exchange”), proposes to amend the Grayscale Ethereum Trust ETF (the “Trust”) and Grayscale Ethereum Mini Trust ETF (the “Mini Trust” and, together with the Trust, the “Trusts”), shares of which have been approved by the Commission to list and trade on the Exchange pursuant to Rule 8.201-E (Commodity-Based Trust Shares), to permit staking of the ether held by the Trusts.”
NYSE Provides Gateway to Investors for Crypto Sector
Earlier, NYSE Arca submitted a 19b-4 filing seeking to convert Grayscale’s XRP Trust into a spot ETF, with the trust fund’s AUM at approximately $16.1 million.
Crypto ETFs have become a new means for investors to gain exposure to the benefits of cryptocurrencies, though they remain subject to the market’s volatility. According to data, Ethereum spot ETFs saw a total net inflow of $12.58 million on February 11. Grayscale Ethereum Trust ETF (ETHE) recorded no net outflow yesterday, maintaining its historical net outflow at $3.95 billion. Similarly, Grayscale Ethereum Mini Trust ETF (ETHA), added $12.58 million, bringing its historical total net inflow to $4.36 billion.
As of now, Ethereum spot ETFs have a total net asset value of $9.84 billion, with an ETF net asset ratio of 3.14%, which represents their market capitalization as a share of Ethereum’s total market capitalization. The historical cumulative net inflow into Ethereum spot ETFs has reached $3.169 billion.
If NYSE Arca’s proposal to offer staking for Grayscale’s spot Ethereum ETF is approved, it could allow the fund to earn staking rewards. This might increase investor returns while maintaining direct exposure to Ethereum. It will also create a difference for Grayscale’s ETF from competitors by introducing a yield-generating component.
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