US spot Ethereum ETF distributing staking rewards in cash with a 0.21% fee waived through October 2027
21shares Ethereum Staking ETF (TETH) is a spot Ethereum exchange-traded product listed on the Cboe BZX Exchange. It holds physical ether directly, tracks the performance of the FTSE Ethereum Index, and distributes validator staking rewards to shareholders in quarterly cash payments. As of October 22, 2026, the fund held $26,533,460.03 in net assets at a net asset value of $11.90 per share.
The trust is sponsored by 21Shares US LLC, an American operating arm of 21Shares. The Swiss-headquartered parent company established one of the earliest physically backed crypto ETP tracks in Europe starting in 2018. Andres Valencia serves as Executive Vice President of Investment Management on the executive committee, overseeing portfolio management, operations, and capital markets after previously serving as Vice President of Operations at JPMorgan's Beta Strategies Group.
TETH operates as an exchange-traded grantor trust rather than an investment company registered under the Investment Company Act of 1940. Assets do not require individual self-custody wallets or private key management from brokerage investors. Cold storage and asset safekeeping are divided across institutional custodians: Anchorage Digital Bank N.A., BitGo Bank & Trust, N.A., BitGo New York Trust Company, LLC, and Coinbase Custody Trust Company, LLC. The fund commits a portion of its ether holdings to validators on the Ethereum network. Protocol staking rewards are collected, net of operational deductions, and distributed to shareholders in cash at least quarterly.
The fund carries a baseline annual management fee of 0.21%. The sponsor enacted a complete fee waiver that runs through October 8, 2027, maintaining a 0.00% sponsor fee for the duration. The trust withholds 25% of gross staking rewards to cover protocol expenses and operating costs before distributing net yields. TETH trades publicly under the ticker TETH on the Cboe BZX Exchange and is available to retail and institutional accounts through regular US stock brokerages without requiring crypto exchange accounts.
The fund initially launched on July 22, 2024, under the ticker CETH as the 21Shares Core Ethereum ETF. On October 8, 2025, the sponsor introduced direct staking features, shifting distributions to cash yield and rebranding the vehicle. Effective August 27, 2026, the fund moved its pricing benchmark to the FTSE Ethereum Index from the CME CF Ether-Dollar Reference Rate New York Variant. Primary risks include ether price volatility and validator unbonding delays, which averaged 14 hours during 2026 or about 8 days including sweep settlement. Investors cannot withdraw the underlying ether directly.
TETH provides spot ether exposure with quarterly cash staking distributions and a full fee waiver through October 2027, offset by modest fund assets and a 25% staking reward cut.
21shares Ethereum Staking ETF (TETH) is a spot Ethereum exchange-traded product listed on the Cboe BZX Exchange under the ticker TETH. Sponsored by 21shares US LLC, the fund launched on July 22, 2024, originally operating under the ticker CETH before adding staking functionality. As of October 2026, the fund tracks the FTSE Ethereum Index and holds spot ether, with assets under management of approximately $26.5M.
TETH addresses a common limitation of standard spot ether funds by staking a portion of its underlying ether directly on the network and distributing net staking rewards in cash to shareholders at least quarterly. The fund features a 0.21% management fee that is 100% waived until October 8, 2027. Custody is spread across regulated digital asset custodians, including Anchorage Digital Bank, BitGo, and Coinbase Custody.
The product involves trade-offs that allocators must weigh:
The fund suits brokerage and retirement account investors who want spot ether price tracking combined with passive staking income without managing private keys or validator infrastructure. It is less suitable for active high-volume traders requiring deep secondary liquidity, or decentralized finance participants seeking immediate liquidity and complete ownership of their staking yields.
| Ticker | TETH |
|---|---|
| Issuer | 21shares |
| Holds | Ether · unverified |
| Structure | Spot ETF · unverified |
| Expense ratio | 0.21% · unverified |
| Fee waiver | 100% waiver through October 8, 2027 · unverified |
| Assets under management | $26.5M · unverified |
| Listed on | Cboe BZX · unverified |
| Launch date | 2024-07-22 · unverified |
| Custodian | Anchorage Digital Bank, BitGo, Coinbase Custody · unverified |
| Stakes its holdings | Yes · unverified |
| Market | United States · unverified |
Not disclosed by the provider: Options available.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Holds spot ether directly, tracking performance against the FTSE Ethereum Index.
Stakes network assets and distributes earned staking yields to shareholders in cash each quarter.
Waives its 0.21% baseline management fee entirely through October 8, 2027.
Stores underlying ether across Anchorage Digital Bank, BitGo, and Coinbase Custody.
Trades on the Cboe BZX Exchange under the ticker TETH via standard brokerage accounts.
Displays the fund's core objective, primary tickers, net asset value, assets under management, and trading fundamentals.
Details the annualized validator rewards rate, gross and net staking yields, and the percentage of ether holdings committed to network validators.
Tracks historical market price and NAV returns against the FTSE Ethereum Index across daily, monthly, and since-inception timeframes.
Illustrates daily deviations between the secondary market share price and the ETF's underlying net asset value at the 4:00 PM close.
Lists the underlying spot ether allocation, coin entitlement per share, and reference pricing figures.
Summarizes formal product specifications, including the CUSIP, ISIN, listing exchange, sponsor fee waivers, and custodian assignments.
There are no relevant user reviews or feedback available regarding the product.
Based on 1 Reddit posts and comments from the last 12 months, checked Oct 26, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.
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TETH has a base management fee of 0.21%, which is 100% waived by the sponsor through October 8, 2027. The fund also withholds 25% of gross staking rewards earned on its staked assets.
TETH commits a portion of its ether holdings to network validators and sells the earned rewards out of the fund. Net staking rewards are distributed to shareholders in cash on at least a quarterly basis.
The fund's ether holdings are secured across qualified digital asset custodians including Anchorage Digital Bank N.A., BitGo, and Coinbase Custody.
TETH is listed on the Cboe BZX Exchange in the United States and can be purchased through conventional brokerage and retirement accounts without needing a crypto wallet.
The ETF is sponsored by 21shares US LLC, a unit of 21shares, with investment management operations overseen by Executive Vice President Andres Valencia.
Recent public posts from @21shares_us, shown as published. Not reviewed or endorsed by CryptoReview.
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