Crypto
Home›Crypto›Ethereum›21Shares TETH processed $48.4M redemptions while 86% o…
21Shares TETH processed $48.4M redemptions while 86% of ETH stayed staked
The trust said no redemptions were failed, delayed, or suspended, but it flagged that staking lockups tied to Ethereum unstaking timing could constrain future settlements.
21Shares Ethereum ETF, which trades as TETH, reported $48.4 million in TETH redemptions in the first half of 2026, according to an Aug. 14 quarterly filing reviewed by CryptoSlate. The trust ended June with 86.42% of its ETH holdings staked, highlighting that future redemption settlement can depend on the timing of Ethereum unstaking.
CryptoSlate reported that for the six months ended June 30, TETH redemptions generated $48.426 million in distributions for redeemed shares, versus $42.174 million of contributions for new shares. Using the filing’s unrounded figures, redemptions exceeded contributions by $6.251 million, and the trust sold 21,125.2745 ETH for $48.426 million in cash redemptions during the period, with no failed, delayed, or suspended orders identified.
The filing also showed that TETH net assets fell from $31.298 million at end of December to $12.917 million at June 30. CryptoSlate attributed part of the decline to fewer shares outstanding, a 46.89% drop in Ethereum’s reference price, and a $12.769 million realized loss recorded on ETH sold for redemptions, with net asset value per share dropping from $14.83 to $7.88.
CryptoSlate noted that at June 30, the trust held 8,185.4684 ETH, with the 86.42% staking level implying roughly 7,074 ETH staked and 1,112 ETH unstaked. The filing warns that staked ETH cannot be moved or traded during Ethereum’s variable unbonding period, potentially creating temporary lockups or transfer restrictions that could limit the trust’s ability to meet future redemptions.
Latest closeEthereum $1,881.08 ▲0.0%