The IRS now recognizes staking in ETFs, but operational details matter. Trusts can manage liquidity and use financing for redemptions, but only single-asset funds qualify. Mixed-asset and private/non-listed trusts are excluded.

Staking providers must be independent and offer slashing protections, though liability is partly undefined. Networks must be permissionless, emphasizing public, verifiable blockchains.

These nuances suggest future staking ETFs will be single-token focused. Investors and managers who understand these rules early can capitalize on staking yields while remaining compliant, a potential win-win in the new regulatory environment.