Grayscale Invests $150 Million in ETH as SEC Deadline Looms

Crypto asset manager Grayscale has made a bold move, investing $150 million worth of Ethereum (ETH) into its exchange-traded products (ETPs). This follows the introduction of staking functionality for Grayscale’s Ether ETPs on Monday. 32,000 ETH were staked by Grayscale, according to blockchain data platform Lookonchain. 💰 📈. This marks the first instance of a US-based crypto fund issuer offering passive income through staking for its funds. ⚡️ This move enables Grayscale’s ETP and shareholders to earn rewards from the Ethereum staking pool, with up to 77% of rewards going back to investors (after fees) based on SEC filings.