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

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. 14 quarterly filing. 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 $42.174 million of contributions for new shares. Using the filing's unrounded figures, redemptions exceeded contributions by $6.251 million. The trust sold 21,125.2745 ETH for $48.426 million of cash redemptions during the period. The filing records completion of that activity without identifying a failed, delayed or suspended order.

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. Several reported changes contributed to that result: shares outstanding declined from 2.11 million to 1.64 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 $14.83 to $7.88.