REX-Osprey ESK: First U.S. Ethereum Staking ETF Debuts on Cboe with Rewards
The REX-Osprey ETH + Staking ETF (ticker ESK) launched on September 25, 2025 on the Cboe BZX Exchange as the first U.S. Ethereum staking ETF. Structured under the Investment Company Act of 1940 as a C corporation, ESK combines spot ETH exposure with monthly staking rewards by directly staking purchased Ethereum and distributing income evenly to shareholders. It opened with $625,000 in assets under management and 25,000 shares outstanding. Joining existing Solana (SOL), Dogecoin (DOGE) and XRP (XRP) ETFs on Cboe, this Ethereum staking ETF removes technical barriers and lock-up risks, offering a passive income stream for institutional and retail investors. Launched with ETH trading below $4,000, ESK’s transparent pricing and regulated ETF wrapper could drive new inflows into Ether, boosting demand and staking adoption in the U.S. Other issuers are awaiting SEC approval to add staking features to spot crypto ETFs, marking a milestone that may enhance market stability and trader confidence.
Bullish
The debut of the first U.S. Ethereum staking ETF on Cboe is bullish for ETH as it lowers entry barriers, offers regulated staking rewards, and broadens institutional and retail participation. In the short term, the transparent pricing and monthly yield may attract fresh inflows, supporting price stability above key levels. Over the long term, embedding staking within an ETF structure could drive consistent demand for ETH, accelerate staking adoption, and bolster market liquidity, reinforcing positive sentiment and confidence in crypto investment products.