The U.S. Department of the Treasury, along with the Internal Revenue Service (IRS), has released new regulatory guidelines that significantly simplify the participation of trusts and exchange-traded products (ETPs) in the staking of digital assets. According to Revenue Procedure 2025-31, cryptocurrency trusts and ETPs can earn profits from staking without losing their status as investment or grantor trusts, eliminating key tax risks for these financial instruments.
This is reported by Business • Media
New Rules for Staking: Conditions and Features
The approved changes open the door to widespread adoption of staking in the realm of regulated financial products in the U.S., including assets such as Ethereum and other cryptocurrencies that operate on a Proof-of-Stake mechanism. Market participants have received a clear “safe harbor” framework that provides transparent rules:
- Trusts are allowed to hold only one type of digital asset along with cash;
- All staking operations must be conducted through a qualified custodian responsible for the security of keys and asset management;
- Liquidity requirements approved by the SEC ensure the ability to redeem assets even if they are participating in staking;
- Relationships with external staking providers must be independent;
- The activities of the trust are limited to holding, staking, and redeeming assets—speculative trading is prohibited.
Regulators’ and Industry Experts’ Position
“Today, the Treasury and IRS published new guidelines that provide cryptocurrency ETPs with a clear path to staking digital assets and distributing rewards among investors. This move enhances benefits for investors, stimulates innovation, and maintains America’s status as a global leader in digital assets and blockchain technology,” wrote Bessent on X.
U.S. Treasury Secretary Scott Bessent emphasized that the decision provides a “clear path” for trusts seeking to engage in staking without violating tax regulations. Consensys attorney Bill Hughes explained that the new framework guarantees tax and regulatory clarity for institutional products. This helps eliminate the main legal barriers that previously hindered the adoption of staking in regulated financial products. According to him, such changes stimulate increased participation in staking, enhance liquidity, and promote the decentralization of networks, while also establishing staking as a “legitimate, conservative profit strategy” for American investors.
It is known that Revenue Procedure 2025-31 ultimately transforms staking from a potential regulatory risk into a practice that is tax-recognized and acceptable for institutional investors.
The new rules were implemented against the backdrop of the entry of the first spot ETFs with staking into the American market. On September 25, 2025, REX Shares and Osprey Funds launched the REX-Osprey ETH Staking ETF (ESK) on the Cboe exchange, which became the first spot Ethereum ETF with staking in the U.S. This allows shareholders to receive a portion of the rewards for locking assets in the trust. Additionally, Bitwise Asset Management announced the start of trading for its Solana ETF with staking (BSOL) on October 28. On the same day, funds based on Litecoin and Hedera from Canary Capital were launched, while Grayscale is preparing to launch a convertible trust based on Solana.