Grayscale Ethereum Staking ETF Lost 47% in Six Months

A $10,000 stake in Grayscale's Ethereum Staking Mini ETF on January 1, 2026 fell to roughly $5,328 by June 5, a 47% year-to-date loss. Ether's spot price dropped 46% over the same period, from $2,967 to $1,596. The fund's 3-4% annualized staking yield was erased by a single 11% down day. The ETF functioned as a plain spot Ether wrapper.