Grayscale to Stake 1.5M ETH from ETHE for $276M Yield
Onchain data from Arkham Intelligence shows Grayscale moved over 40,000 ETH in batches of 3,200 ETH, signaling preparation for staking its 1.5 million ETH held in the Grayscale Ethereum Trust (ETHE). This pattern indicates an imminent ETH staking operation within its spot ETF structure. Pending SEC approval of staking rewards in spot ETH ETFs, Grayscale could become the first U.S. issuer to deploy ETF-held ETH into staking. At current rates (3–4% APY), staking 1.5 million ETH may generate up to $276 million annually. Following recent SEC guidance suggesting some liquid staking may fall outside its regulatory scope, traders should monitor SEC updates, ETF filings, on-exchange ETH supply levels, and staking yields. This ETH staking push could deepen institutional demand, tighten supply, and influence market sentiment.
Bullish
Grayscale’s move to stake 1.5 million ETH from its ETHE fund reduces available on-exchange supply, supporting upward price pressure. The potential $276 million in annual staking rewards highlights growing institutional yield demand and could attract new capital into ETH. Short-term, onchain transfers signal imminent staking, likely driving speculative interest; long-term, successful ETF-based staking may establish a template for yield-generating ETH products in the U.S., further bolstering institutional adoption and market confidence.