On-chain analyst Yu Jian reports that the ability for U.S. spot ETH ETFs to stake their holdings has contributed to ETH's recent price rebound, with Grayscale staking 32,000 ETH.
On-chain analyst Yu Jian reported that U.S. spot Ethereum ETFs can now stake their ETH, likely contributing to ETH’s price rebound from $3,800 to $4,700. Following the confirmation of staking capability, Grayscale staked 32,000 ETH in the past 9 hours across 10 addresses. The funds had previously distributed 32,000 ETH twenty days ago, allocating 3,200 ETH per address.