Grayscale’s Ethereum Staking ETF (NYSE: ETHE) has just made its first-ever payout to investors, setting a new milestone for crypto-focused investment products in the U.S. This marks the first time a U.S.-listed spot crypto ETF has distributed staking rewards to shareholders.

The payout comes from Ethereum staking rewards collected between October 6, 2025, and December 31, 2025. Investors who held shares by the record date of January 5 will receive $0.083178 per share. The payment is scheduled to be distributed on Tuesday.

This is a big deal because it opens a new path for traditional investors to earn income from Ethereum staking, a key feature of the Ethereum blockchain’s proof-of-stake system. Previously, this type of income was mostly out of reach for people investing through ETFs.

ETHE, along with its sister fund, the Grayscale Ethereum Staking Mini ETF (NYSE: ETH), began staking Ethereum in October 2025 after regulators provided clearer guidelines. To reflect their new staking abilities, both funds recently changed their names from “trust” structures to “staking ETFs.”

It’s important to note that these ETFs are not registered under the Investment Company Act of 1940. That means they don’t come with the same protections as standard mutual funds or ETFs. Investors should be aware of higher risks, including price swings, complex operations, and the chance of losing money. Also, even though these funds hold Ethereum, investors don’t actually own the cryptocurrency itself.

Unlike dividends from stocks or interest from bonds, this distribution comes from selling the Ethereum earned through staking. This shows how crypto ETFs are blending digital assets with traditional investment features. For investors, these payouts could help offset fund fees or tracking differences but won’t remove the risks tied to Ethereum’s price changes.

Grayscale has said that it may continue making staking distributions for eligible products, depending on how the network performs and what regulators allow in the future. If this becomes a regular feature, it could reshape how investors think about earning income from crypto investments—though returns may vary over time.

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