Grayscale Stakes 32,000 ETH After US ETH Spot ETF Cleared to Stake — Yu Jin Links Move to ETH’s $3.8K→$4.7K Rally
ETH/USDT
$39,049,302,904.94
$2,145.26 / $2,009.54
Change: $135.72 (6.75%)
-0.0018%
Shorts pay
On October 7, COINOTAG News published on-chain commentary from Yu Jin, who noted that ETH held within U.S. ETH Spot ETF vehicles is now permitted to undergo staking; over the same interval Ethereum traded from roughly $3,800 to $4,700.
Data shows that, within the past nine hours, two ETH Spot ETFs managed by Grayscale executed stakes totaling 32,000 ETH, deploying those tokens across ten addresses; those same funds recorded distributions about 20 days earlier that averaged 3,200 ETH per address.
The public confirmation that regulated ETF holdings can participate in staking establishes an operational pathway for institutional ETH to join consensus activities, altering on-chain supply flows without asserting causal price effects.