**Grayscale Ethereum Staking ETF Reports Financial Performance for 2025**

Grayscale Ethereum Staking ETF (ETHE), a Delaware statutory trust, has released its financial results for the year ended December 31, 2025. The filing indicates a net realized and unrealized loss on investment in Ether of $542.3 million, which includes a realized gain of $68.7 million on the transfer of Ether to pay the Sponsor’s Fee and a realized gain of $1.7 billion on the sale of Ether to meet redemptions. The net change in unrealized appreciation/depreciation on investment in Ether was a loss of $2.3 billion. This loss was primarily driven by a decrease in the price of Ether from $3,340.40 on December 31, 2024, to $2,971.94 on December 31, 2025.

The ETF reported a net decrease in net assets resulting from operations of $618.8 million for the year ended December 31, 2025, comprising the net realized and unrealized loss on investment in Ether and a net investment loss of $76.5 million. The Trust's net assets decreased by 43% to $2.7 billion as of December 31, 2025. This decrease was due to the Ether price depreciation, the withdrawal of approximately 28,363 Ether to pay the Sponsor’s Fee, the payable of approximately 3,798 Ether to pay the Sponsor’s Staking Fee, and the redemption of approximately 704,785 Ether, with a value of $2.2 billion from the Trust, partially offset by the contribution of approximately 221,891 Ether, with a value of $744.4 million to the Trust in connection with Share creations during the year, and the contribution of approximately 3,798 Ether with a value of $12.2 million to the Trust in connection with Staking Rewards.

Key operational developments included the commencement of Ether staking on October 6, 2025, with a portion of gross staking consideration allocated among the Custodian, staking providers, and the Sponsor. The Sponsor anticipates engaging in staking with respect to all of the Trust’s Ether at all times, except as necessary to pay the Sponsor’s Fee, additional Trust expenses, satisfy redemption requests, or address other specified concerns. The approximate percentage of the Trust’s Ether that is staked each day is reported the following day at 4:00 p.m., New York time, on etfs.grayscale.com/ethe.

Looking ahead, the Trust's investment objective remains to reflect the value of Ether held by the Trust, including Ether earned as Staking Consideration, determined by reference to the Index Price, less the Trust’s expenses and other liabilities. The Sponsor will continue to monitor market conditions and regulatory developments to ensure the Trust operates in compliance with applicable laws and regulations. The Sponsor has implemented a staking policy with respect to the Trust, which describes the frequency of, and conditions under which the Trust will make such distributions, if any, to the Trust’s beneficiaries, which is available to shareholders on the Sponsor’s website.

About Grayscale Ethereum Trust ETF

A blockchain-based digital asset company that manages the Grayscale Ethereum Trust ETF, which holds and provides exposure to Ether, the native cryptocurrency of the Ethereum network. The company offers a passive investment vehicle that tracks Ether’s market value, facilitating accessible, cost-efficient, and secure investment in digital assets through listed shares. Its core focus is on transparency, cold storage security, and simplifying access to Ethereum’s ecosystem for institutional and retail investors.

This description was generated via AI from an annual report. Updated 8 months ago.

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