The U.S. Department of the Treasury and Internal Revenue Service (IRS) released new guidance to define the tax framework for digital asset staking by investment trusts. The policy establishes a safe harbor allowing qualifying investment and grantor trusts to stake digital assets under proof-of-stake protocols without losing their federal tax classification.

U.S. Treasury Secretary Scott Bessent stated on social media platform X on Nov. 10:

Today US Treasury and the IRS issued new guidance giving crypto exchange-traded products (ETPs) a clear path to stake digital assets and share staking rewards with their retail investors.

“This move increases investor benefits, boosts innovation, and keeps America the global leader in digital asset and blockchain technology,” Bessent added.

The new rules align with recent actions by the U.S. Securities and Exchange Commission (SEC), including approval of in-kind creations and redemptions for crypto ETPs and generic listing standards for exchange-traded products holding digital assets.

The framework requires that all staking activities follow SEC disclosure protocols and national securities exchange liquidity standards. Trusts must publish written liquidity risk procedures ensuring at least 85% of assets are readily available for redemptions. Assets locked in staking arrangements must remain accessible through liquidity reserves or contingent borrowing facilities, and all staking relationships must be conducted at arm’s length through independent, unrelated providers.

Under the guidance, trusts may hold only one digital asset type and related cash, must safeguard assets via a qualified custodian controlling private keys, and distribute staking rewards no less frequently than quarterly. The IRS clarified that staking serves to conserve and protect trust property, not to pursue speculative profits, and reiterated that the procedure does not address other crypto-related income issues, such as forks, airdrops, or unrelated business income.

• What new tax guidance did the U.S. Treasury and IRS release on digital asset staking?
  The Treasury and IRS issued updated tax rules allowing investment and grantor trusts to stake digital assets under proof-of-stake protocols while maintaining their federal tax classification.
• How will this affect crypto exchange-traded products (ETPs)?
  The new guidance provides a clear regulatory framework enabling crypto ETPs to stake digital assets and share staking rewards with retail investors, encouraging market participation and growth.
• What are the main compliance and liquidity standards for trusts?
  Trusts must adhere to SEC disclosure requirements, ensure at least 85% of assets remain liquid, and conduct all staking through independent providers while safeguarding assets with qualified custodians.
• Why is this move significant for the U.S. digital asset industry?
  Treasury Secretary Scott Bessent stated the policy strengthens investor benefits, fuels blockchain innovation, and maintains America’s position as a global leader in digital asset technology.

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