Grayscale stakes $150M ETH as SEC altcoin ETF deadlines approach

Grayscale, a crypto-focused asset manager, recently staked $150 million worth of Ether through its exchange-traded products (ETPs), marking the launch of the first staking ETP in the U.S. The company staked 32,000 Ether to blockchain data platform Lookonchain, one day before the SEC's Ether ETP deadlines. This allows Grayscale’s funds and shareholders to earn passive income from staking rewards, with amounts reaching up to 77% and 94% for their Ethereum Trust and Ethereum Mini Trust, respectively, after deducting fees. Grayscale's move comes as the SEC faces upcoming decisions on at least two additional Ether staking funds, including those from 21Shares and BlackRock. The regulatory landscape is shaping up as investors show increased appetite for crypto assets amid ongoing legislative uncertainty. Recent data showed that crypto ETPs recorded substantial inflows last week, reflecting higher interest in cryptocurrency funds and decentralized assets.

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