Hello, my friends! Welcome back to my latest analysis report.  

For this report, I'll be discussing about some updates concerning Ethereum staking ETFs. 

In March 2026, the Securities and Exchange Commission (SEC) jointly issued with the Commodity Futures Trading Commission issued a Commission-level interpretive release, which officially identified Ethereum as a digital commodity and established that the underlying token itself is not a security. This joint interpretation directly enables spot Ethereum ETFs to transition or expand into staking products. 

Ethereum Staking ETFs

As of now, there are three spot Ethereum staking ETFs available in the US market, i.e. Grayscale Ethereum Staking ETF (ETHE), Grayscale Ethereum Staking Mini (ETH) and iShares Staked Ethereum ETF (ETHB). Other major issuers like Fidelity, VanEck, 21Shares, Franklin Templeton and Invesco have filed amendments with the SEC for their Ethereum staking products.  Morgan Stanley also intends to launch its own Ethereum staking ETF. 

In terms of the number of Ethereum held, the existing staking ETFs are holding approximately 1.90 million Ethereum and roughly 1.50 million Ethereum are staked and generating yield for the ETFs. For other ETFs pending SEC approval, it is estimated that an additional amount of around 480,000 to 570,000 Ethereum will be transitioned into validator nodes for staking. 

In general, the staking ETFs will stake around 70% to 80% of their Ethereum, which effectively removes this supply from the liquid market. As the aggregate volume of staked Ethereum continues to grow globally, the issuance rate of Ethereum will drop. Combined with EIP-1559 network fee burning, higher institutional staking rates reduce new Ethereum supply and reinforce long-term scarcity.

What are your thoughts? Let me know where you find any flaws in the comments below!