A staked Ethereum ETF processed $48M in redemptions while keeping 86% of ETH locked, 21Shares filing shows

An important story is making waves across the blockchain ecosystem. The 21Shares Ethereum ETF, which trades as TETH, reported $48. 4 million in TETH redemptions during the first half of 2026 and ended June with 86. 42% of its ETH holdings staked, according to an Aug.

The redemption total covers completed activity; the June 30 staking ratio exposes future settlement to the timing of Ethereum's unstaking process. For the six months ended June 30, TETH redemptions generated $48. 426 million in distributions for redeemed shares against $42.

Market Dynamics

174 million of contributions for new shares. Using the filing's unrounded figures, redemptions exceeded contributions by $6. The trust sold 21,125.

426 million of cash redemptions during the period. The filing records completion of that activity without identifying a failed, delayed or suspended order. Related Reading A hidden “yield war” has begun in Ethereum ETFs, forcing issuers to finally pay you for holding Grayscale turned Ethereum’s staking yield into something ETF investors instantly recognize: a cash payout.

Jan 11, 2026 Andjela Radmilac Following the TETH redemptions, the fund's net assets fell from $31. 298 million at the end of December to $12. 917 million at June 30.

Market Impact

Several reported changes contributed to that result: shares outstanding declined from 2. 64 million, ETH's reference price fell 46. 89%, and the trust recorded a $12.

769 million realized loss on ETH sold for redemptions. Net asset value per share dropped from $14. At quarter-end, the trust held 8,185.

Applying the disclosed 86. 42% staking share gives approximate balances of 7,074 ETH staked and 1,112 ETH unstaked. Those quantities are derived from a rounded percentage.

Crypto markets are watching this development closely as investors weigh its potential impact on prices.