Grayscale Ethereum Staking ETF (ticker: ETHE) is a Delaware statutory trust that holds Ether (ETH) and is listed on NYSE Arca. The Trust gives retail and institutional investors exposure to Ether's price through a standard brokerage account, without requiring them to directly acquire or manage Ether. Each Share represents a fractional ownership in the Trust's Ether holdings. The Trust is passive — it does not trade or speculate — but it began staking Ether in October 2025, participating in Ethereum's proof-of-stake validation network to earn incremental ETH rewards. The Trust is sponsored by Grayscale Investments Sponsors, a subsidiary of Digital Currency Group. Grayscale earns a Sponsor's Fee of 2.5% per year on the Trust's NAV, which accrues daily and is paid by gradually reducing the ETH held per Share. The staking program adds another economic layer: the Trust earns gross staking rewards from the Ethereum network, of which 23% goes to the Staking Provider and Custodian, with the Trust retaining the rest, subject to a potential additional Sponsor's Staking Fee. Remaining staking rewards may be distributed to shareholders or retained. Shares are created and redeemed only by authorized participants in blocks of 10,000 Shares via cash transactions; retail investors access Shares exclusively through secondary market trading.