Grayscale Adds ETH Staking to Their Ethereum ETF Application

Bittime - Grayscale Investments, the digital asset management giant, announced the expansion of their Ethereum-related services. The company has added ETH staking to the application for the Grayscale Ethereum ETF (ETHE), which is currently awaiting SEC approval . These details were revealed on March 20, 2024.

This addition of ETH staking has the potential to be a game changer for investors looking to earn passive income from their ETHE holdings. Staking allows investors to lock up their tokens and participate in securing the Ethereum blockchain network, while receiving rewards in return.

Benefits of Staking ETH for ETHE Investors

• Passive Income: Staking ETH offers a way for investors to generate additional income in the form of new ETH tokens. These rewards are earned regularly, usually every day or week.
• Increasing ETHE Holdings: Over time, staking rewards add to investors' ETH holdings, effectively increasing their exposure to this asset.
• No Need to Actively Trade: Unlike traditional crypto trading activities, staking does not require investors to continuously monitor the market and make active purchases/sells.

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Grayscale ETHE Awaits SEC Approval

Although Grayscale has added ETH staking to their ETHE app, it is important to note that the product itself has not been approved by the United States Securities and Exchange Commission (SEC). Grayscale has applied to convert ETHE into a publicly traded ETF, but the SEC has not yet rendered a final decision.

Potential Impact on the Market

If approved, Grayscale's ETH staking ETF could potentially attract greater institutional investor interest to the Ethereum market. This could lead to an overall increase in ETH demand and price. Additionally, the easy availability of staking through trusted platforms such as Grayscale could encourage wider adoption of staking among retail investors.

Also Read How to Buy Crypto:

Conclusion

Grayscale adding ETH staking to their ETHE app is an exciting development for investors looking to maximize their Ethereum holdings. Although SEC approval is still required, this move shows Grayscale's commitment to providing innovative investment products in the cryptocurrency space.

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How to Buy Ethereum (ETH) on Bittime

You can buy and sell  Ethereum (ETH)  in an easy and safe way via  Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Ethereum (ETH)  is available on Bittime with the market pair  ETH/IDR .  To be able to buy  ETH/IDR  at  Bittime,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on  Bittime  is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Ethereum (ETH) on Bittime. 

Monitor price chart movements   for Ethereum (ETH) ,  Bitcoin (BTC) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Crypto Asset Recommendations for Staking during the 2024 Bear Market

Is It Right to Stake ETH during the 2024 Bear Market: Opportunity or Risk?

Tips for Staking Ethereum during the 2024 Bear Market

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.