Grayscale Ethereum Staking Mini ETF (ETH)

Spot ether ETF trading on NYSE Arca with native staking and a 0.15% expense ratio

Crypto ETF Founded 2024 United States Oct 26

Visit etfs.grayscale.com

4.1/ 5

Our score

Very good

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Ticker ETH

Expense ratio 0.15%

Holds Ether

Assets under management $1.79B as of July 2026

Listed on NYSE Arca

Custodian Coinbase Custody Trust Company and Anchorage Digital Bank N.A.

What is Grayscale Ethereum Staking Mini ETF (ETH)?

Grayscale Ethereum Staking Mini ETF (ticker: ETH) is an exchange-traded fund that provides direct exposure to spot ether through regular brokerage and retirement accounts. Sponsored by Grayscale Investments, the fund trades on NYSE Arca and stakes a portion of its holdings to pass staking proceeds through to net asset value, charging an annual sponsor fee of 0.15%.

Sponsor and regulatory framework

The fund is organized as a Delaware statutory trust sponsored by Grayscale Investments, a crypto-focused asset manager based in the United States. The trust is not registered as an investment company under the Investment Company Act of 1940, and Grayscale is not registered as an investment adviser under the Investment Advisers Act of 1940, meaning standard mutual fund investor protections do not apply.

Custody and staking operations

The trust holds 100% ether as a single asset with no secondary diversification. Asset custody is split across institutional providers, with Coinbase Custody Trust Company acting as the primary custodian and Anchorage Digital Bank N.A. serving as an additional custodian. Custodians hold ether as the property of the trust, though custodians provide no recourse for slashing penalties incurred under their staking addendums. Staking rewards net directly into the trust NAV after operational deductions.

Fee structure and trading metrics

ETH charges an annual sponsor expense ratio of 0.15%, which applies continuously without relying on a temporary fee waiver. Staking yields carry a separate operational fee: the trust retains 94% of gross staking rewards, while a 6% cut is deducted and shared among the sponsor, custodian, and staking infrastructure provider. As of July 2026, the fund held roughly $1.79B in assets under management and maintained an average daily dollar trading volume of around $69M.

Track record and primary risks

Trading for the fund originally commenced on July 23, 2024, under the name Grayscale Ethereum Mini Trust before Grayscale rebranded it to the Grayscale Ethereum Staking Mini ETF in January 2026. Key risks include exposure to ether market volatility, potential protocol slashing events without custodian liability, tracking error, and regulatory uncertainty. Shareholders cannot redeem brokerage shares for physical ether, relying entirely on secondary market liquidity on NYSE Arca.

Best for:US brokerage account holdersRetirement and IRA ether exposureCost-sensitive spot ether investors

Pros and cons

Pros

Low 0.15% annual expense ratio with no temporary waiver expiration
Stakes ether holdings to pass 94% of staking yield into NAV
Uses two institutional custodians including Coinbase Custody and Anchorage Digital
Deep secondary market liquidity with roughly $69M in daily volume in July 2026

Cons

No custodian recourse or compensation for validator slashing losses
Sponsor and partners deduct 6% from gross staking rewards
Shareholders cannot redeem shares for physical ether
Not registered under the Investment Company Act of 1940

Our review

4.1/5

Very good

Grayscale Ethereum Staking Mini ETF pairs a low 0.15% expense ratio with native staking yield, but exposes investors to single-asset ether volatility and non-refundable slashing risks.

Fees4.5

Size & liquidity4.0

Issuer & custody4.0

Structure & tracking3.5

Extras (staking, options)4.5

Grayscale Ethereum Staking Mini ETF (ticker: ETH) is a spot ether exchange-traded fund structured as a Delaware statutory trust and listed on NYSE Arca. The fund launched on July 23, 2024, originally under the name Grayscale Ethereum Mini Trust, before rebranding in January 2026 to incorporate staking into its formal mandate. Unlike traditional grantor trusts that leave assets idle, it directly holds ether while delegating a portion of holdings to earn staking rewards that accrete into net asset value.

Cost is the primary selling point. The fund carries an expense ratio of 0.15% with no temporary fee waiver gap, matching the 0.15% fee of Bitwise Ethereum ETF (ETHW) and sitting lower than the 0.25% charged by iShares Ethereum Trust ETF (ETHA) and Grayscale's legacy ETHE at 2.50%. For staking yield, the fund deducts a separate 6% fee split between the sponsor, custodians, and infrastructure providers, passing 94% of gross staking rewards back into the fund.

Custody relies on Coinbase Custody Trust Company as primary ether custodian alongside Anchorage Digital Bank N.A. This institutional setup eliminates personal private key custody but introduces trade-offs: Coinbase's staking terms offer no recourse for slashing penalties caused by validator technical failures. As of July 2026, the fund held $1.79B in assets under management with average daily volume of $69M, providing ample liquidity for retail order sizes while trailing the asset scale of larger spot vehicles.

The product suits retail or retirement investors who want ether price exposure alongside staking yields inside a brokerage account without managing on-chain wallets. Investors seeking direct redemption into physical ether or diversified multi-asset exposure should choose self-custody or multi-token baskets instead.

Listings are researched and drafted with AI assistance from public sources, then checked for accuracy and readability. Spot an error? Tell us. Editorial policy.

Sources (2)

Specs

Ticker	ETH
Issuer	Grayscale
Holds	Ether · unverified
Structure	Spot ETF · unverified
Expense ratio	0.15% · unverified
Assets under management	$1.79B as of July 2026 · unverified
Listed on	NYSE Arca · unverified
Launch date	2024-07-23 · unverified
Custodian	Coinbase Custody Trust Company and Anchorage Digital Bank N.A. · unverified
Stakes its holdings	Yes · unverified
Market	United States · unverified

Not disclosed by the provider: Fee waiver, Options available.

Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.

Key features

Direct spot ether holdings

The fund holds physical ether directly in institutional cold storage rather than relying on derivative contracts or futures.

Integrated staking rewards

Stakes a portion of trust assets, returning 94% of gross staking proceeds directly into fund NAV after a 6% operational deduction.

Low 0.15% expense ratio

Carries a 0.15% annual sponsor fee that requires no temporary waiver or introductory period.

Dual institutional custodians

Ether holdings are segregated across Coinbase Custody Trust Company and Anchorage Digital Bank N.A.

NYSE Arca secondary trading

Trades under ticker ETH on NYSE Arca with average daily turnover around $69M as of July 2026.

Inside Grayscale Ethereum Staking Mini ETF (ETH)

Grayscale Ethereum Staking Mini ETF

Provides single-asset spot ether exposure through shares traded on NYSE Arca under ticker ETH.

Staking program

Delegates a portion of the fund's ether holdings to validators, collecting staking yields that are netted into the trust's net asset value after a 6% fee deduction.

Grayscale Ethereum Staking Mini ETF (ETH) screenshots

The page shows Grayscale Ethereum Staking Mini ETF details, staking metrics, an investment button, and an Ethereum graphic · Oct 26, 2026

What users say about Grayscale Ethereum Staking Mini ETF (ETH)

The provided posts do not discuss the Grayscale Ethereum Staking Mini ETF specifically. They therefore provide no product-specific praise or complaints to compare.

Based on 9 Reddit posts and comments from the last 12 months, checked Oct 23, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.

User reviews

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FAQ

What is the ticker and expense ratio for Grayscale Ethereum Staking Mini ETF?

The ETF trades under the ticker ETH on NYSE Arca and charges a 0.15% annual sponsor expense ratio. A separate 6% deduction applies to gross staking rewards, with 94% returning to fund net asset value.

Who acts as custodian for Grayscale Ethereum Staking Mini ETF?

Coinbase Custody Trust Company serves as the primary custodian holding the ether, with Anchorage Digital Bank N.A. acting as an additional custodian. Under the staking agreement, Coinbase does not offer recourse for staking slashing losses.

Does the Grayscale Ethereum Staking Mini ETF stake its ether holdings?

Yes, the fund stakes a portion of its ether holdings to generate native network rewards. These staking proceeds, net of a 6% deduction, are credited directly to the fund's net asset value.

How does ETH differ from Grayscale's ETHE fund?

ETH is a lower-cost mini fund charging 0.15% annually that spun out of the original trust. Grayscale's flagship Ethereum vehicle, ETHE, carries a significantly higher annual sponsor fee of 2.50%.

Can investors redeem fund shares for actual ether?

No, standard brokerage investors buy and sell shares of ETH in cash on secondary markets. Direct creation and redemption for physical ether is restricted to authorized institutional participants.