21Shares Ethereum Staking ETF Switches Benchmark, Amends Sponsor Fee

What Happened
21Shares US LLC filed an 8-K reporting that the 21Shares Ethereum Staking ETF (the “Trust”) will switch its valuation benchmark to the FTSE Ethereum Index under a Benchmark Licensing Agreement with FTSE International Limited dated August 20, 2026. Beginning August 27, 2026 the Trust will value its shares and calculate net asset value (NAV) by reference to the FTSE Ethereum Index instead of the CME CF Ether‑Dollar Reference Rate — New York Variant. The Sponsor also amended its Sponsor Agreement (Amendment No. 2, dated August 26, 2026) to change the timing of the sponsor fee from weekly in arrears to at least quarterly in arrears, with sponsor fees payable in ether. The Trust’s name was changed from “21Shares Ethereum ETF” to “21Shares Ethereum Staking ETF” via a Certificate of Amendment filed August 25, 2026, and a Fourth Amended and Restated Trust Agreement dated August 26, 2026 was executed to reflect these changes.

Key Details

• Benchmark Licensing Agreement with FTSE International Limited dated August 20, 2026; FTSE will provide a non-exclusive, non-transferable, non-sublicensable, worldwide license to use the FTSE Ethereum Index.
• Valuation/NAV change effective August 27, 2026; previous CF Benchmarks license termination notice was provided June 30, 2026 (effective August 31, 2026).
• Amendment No. 2 to the Sponsor Agreement dated August 26, 2026: sponsor fee payment timing changed from weekly in arrears to at least quarterly in arrears, payable in ether.
• Trust name changed to “21Shares Ethereum Staking ETF” (Certificate of Amendment filed August 25, 2026). The Fourth Amended and Restated Trust Agreement (dated August 26, 2026) implements these and related ministerial updates.

Why It Matters
Changing the pricing benchmark means the method used to value the Trust’s holdings and calculate NAV has been altered, which can affect how closely the ETF tracks benchmarks and how market prices compare to NAV. The sponsor fee timing change (and that fees are payable in ether) affects the Trust’s operational fee mechanism and the form/timing of compensation to the Sponsor. The filing states these amendments do not materially impact the rights of the Trust or holders of shares. Investors who rely on NAV calculation details or who monitor fee mechanics should review the full agreements (filed as exhibits) for specifics.