Grayscale Ethereum Staking ETF - Fourth Amended and Restated Declaration of Trust and Trust Agreement

This filing announces the Fourth Amended and Restated Declaration of Trust and Trust Agreement for the Grayscale Ethereum Staking ETF. The key amendment allows the Trust to commence regular distributions of net cash proceeds from staking rewards to shareholders. This will be achieved by reducing the Trust's Ether holdings to cash no less than quarterly and distributing these proceeds, net of expenses, to shareholders. The amendment also includes other conforming changes to support the Trust's staking program and distribution framework. The Sponsor believes this amendment is necessary to comply with IRS Revenue Procedure 2025-31, which provides conditions for trusts engaging in staking while maintaining grantor trust status for tax purposes. Shareholders are advised to consult tax advisors regarding potential tax implications. The amendment is expected to be effective around August 7, 2026, with a 20-day notice period provided to shareholders.