The Grayscale Ethereum Staking Mini ETF (ticker: ETH) is a Delaware Statutory Trust listed on NYSE Arca that holds Ether on behalf of investors. The Trust gives investors exposure to Ether's price through a conventional brokerage account, without requiring them to directly buy, store, or custody Ether. Each share represents a fractional ownership of the Trust's Ether holdings. The Trust does not actively trade; it holds Ether, stakes it to earn additional Ether rewards, and charges fees for doing so. The Trust issues and redeems shares only through authorized participants — currently Jane Street, Virtu, Macquarie, ABN AMRO, and Goldman Sachs — in blocks of 10,000 shares, while retail investors buy and sell shares on NYSE Arca. The Trust charges a 0.15% annual Sponsor's Fee on NAV, paid in Ether. Since October 2025, the Trust has also staked its Ether on Ethereum's proof-of-stake network, earning staking rewards; the Sponsor, Custodian, and Staking Provider collectively take 6% of gross staking rewards, with the remainder retained by the Trust. As both fees are paid in Ether, the Ether per share gradually declines over time. The Trust's economics are driven by the price of Ether, AUM, and staking yields. The Sponsor, Grayscale Investments Sponsors (an indirect subsidiary of Digital Currency Group), covers all ordinary operating expenses out of its fee. Coinbase Custody and Anchorage Digital serve as custodians.