Crypto Tax Safe Harbor: ETF Staking
November 13, 2025
Treasury and the IRS have issued a safe harbor, in the form of Revenue Procedure 2025-31, under which a crypto exchange-traded product (commonly referred to as a crypto ETF, but more correctly described as a crypto ETP) can stake its digital assets without being taxed as a domestic corporation. The revenue procedure, while helpful, presents several questions and challenges. This alert provides our initial high-level reactions.
