Grayscale Ethereum Staking Mini ETF Shares (ETH) Financials
ETHNYSE
Trailing 12 months to September 30, 2026
RevenueNot reportedfor the trailing 12 months
Net Income-$1.1BYoY not available
EPS (Diluted)Not reportedfor the trailing 12 months
Operating Cash Flow-$928.4MFY2025 annual
Source SEC Filings (10-K/10-Q)Latest period Q3 FY2026, ended Sep 30, 2026ReportedCurrency USDFYE December
Newest figures come from the 10-Q for Q3 FY2026, filed Nov 5, 2026.
Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ETH SEC filings page.
This page shows Grayscale Ethereum Staking Mini ETF Shares (ETH) financial statements, including the
income statement, balance sheet, cash flow statement, and key financial ratios.
All figures are derived from SEC filings (10-K and 10-Q reports).
Rhea AIETHFY2025
This trust is primarily an equity-funded asset pool, with reported losses and cash movements reflecting fund activity rather than operating sales.
The combination of a reported net loss of $317.7M and operating cash outflow of $928.4M, matched by financing inflow of $928.4M, points to fund-level asset and funding movements rather than a conventional sales-and-cost cycle. Accounting loss and cash movement diverged materially, so neither figure alone describes the trust’s underlying activity.
The trust reported $2.18B of assets against only $231K of liabilities, leaving the balance sheet overwhelmingly equity-funded rather than debt-financed. That structure is more consistent with an investment vehicle holding assets than with an operating company funded by borrowings.
Only FY2025 is supplied, so the reported net loss of $317.7M and operating cash outflow cannot be placed on a multi-year trajectory. The available figures support a structural reading of the vehicle’s reported assets and funding flows, not a trend judgment.
Financial Health Signals
Financial health score not available
We do not publish a peer-relative financial health score for Grayscale Ethereum Staking Mini ETF Shares, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Earnings QualityNo Cash Backing
N/A
Grayscale Ethereum Staking Mini ETF Shares reported a net loss of $317.7M while operations used $928.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Grayscale Ethereum Staking Mini ETF Shares reported $943.1M in net income in Q3 2026. This represents an increase of 1.2% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Revenue
Not reported for Q3 2026.
EBITDA
Not reported for Q3 2026.
EPS (Diluted)
Not reported for Q3 2026.
Cash & Balance Sheet
Shares Outstanding
96M
YoY+22.7%
QoQ+9.3%
Grayscale Ethereum Staking Mini ETF Shares had 96M shares outstanding in Q3 2026. This represents an increase of 22.7% from the same quarter a year earlier. Against the prior quarter it is up 9.3%.
Free Cash Flow
Not reported for Q3 2026.
Cash & Debt
Not reported for Q3 2026.
Dividends Per Share
Not reported for Q3 2026.
Margins & Returns
Return on Equity
38.0%
YoY+7.0pp
QoQ+72.0pp
Grayscale Ethereum Staking Mini ETF Shares's quarterly ROE was 38.0% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is up 7.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 72.0 percentage points.
Gross Margin
Not reported for Q3 2026.
Operating Margin
Not reported for Q3 2026.
Net Margin
Not reported for Q3 2026.
Capital Allocation
None of these metrics is reported for Q3 2026.
ETH Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
TTM is the trailing twelve months, Q4 FY2025 through Q3 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
ETH Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt, Retained Earnings.
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt, Retained Earnings.
ETH Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Dividends Paid, Share Buybacks.
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Share Buybacks.
TTM is the trailing twelve months, Q4 FY2025 through Q3 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
ETH Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, Debt-to-Equity, Asset Turnover, FCF Margin.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, Debt-to-Equity, Asset Turnover, FCF Margin.
Where Grayscale Ethereum Staking Mini ETF Shares Ranks
No, Grayscale Ethereum Staking Mini ETF Shares (ETH) reported a net loss of $1.1B over the trailing 12 months to September 30, 2026. In fiscal year 2025 it reported a net loss of $317.7M.
Grayscale Ethereum Staking Mini ETF Shares (ETH) has a return on equity of -14.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Grayscale Ethereum Staking Mini ETF Shares (ETH) recorded an outflow of $928.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Grayscale Ethereum Staking Mini ETF Shares (ETH) had $2.2B in total assets as of fiscal year 2025, including both current and long-term assets.
Grayscale Ethereum Staking Mini ETF Shares (ETH) had 85M shares outstanding as of fiscal year 2025.
Grayscale Ethereum Staking Mini ETF Shares (ETH) had a liabilities-to-equity ratio of 0.00 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
Grayscale Ethereum Staking Mini ETF Shares (ETH) had a return on assets of -14.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Grayscale Ethereum Staking Mini ETF Shares (ETH) reported a net loss of $317.7M while operations used $928.4M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
