Crypto-focused asset manager Grayscale staked $150 million worth of Ether after introducing staking for its exchange-traded products (ETPs) on Monday.
The asset management company staked 32,000 Ether (ETH) worth $150 million, according to blockchain data platform Lookonchain.
The transfer occurred a day after Grayscale introduced staking for its Ether ETPs, making it the first US-based crypto fund issuer to offer staking-based passive income for its funds.
The move enables Grayscale’s ETP and its shareholders to start earning passive income via staking rewards on the $150 million. These staking rewards will be treated as “assets of the fund,” according to Grayscale’s ETP Staking Policy.
Deducting sponsor and custodian fees, the fund’s shareholders will earn up to 77% of the total…more
Source cointelegraph.com
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