BlackRock Files for Staked Ethereum ETF
Asset manager BlackRock has filed with the Securities and Exchange Commission (SEC) to launch a Staked Ethereum (ETH) ETF. The company submitted the registration statement on Friday. This follows its recent registration of the product name in Delaware last month.
Details of the iShares Staked Ethereum Trust ETF
The new ETF will be called iShares Staked Ethereum Trust ETF, with the ticker ETHB. It plans to list on Nasdaq. The fund aims to give investors exposure to ETH’s price and staking rewards.
BlackRock intends to stake between 70% and 90% of the Trust’s holdings in normal market conditions. The company will not run its own staking operations. Instead, it will use third-party staking providers chosen through its custodian.
- Staking providers will be selected based on performance, reliability, and reputation.
- Factors like uptime and slashing history will be monitored.
BlackRock’s Growing Crypto ETF Offerings
If approved by the SEC, ETHB will be BlackRock’s fourth crypto ETF and second Ethereum product. Its current spot ETH ETF, ETHA, holds about $11.08 billion in net assets as of December 5, according to SoSoValue data. ETHA is the largest ETH spot ETF.
In July, Nasdaq updated its SEC filing to include staking in ETHA. However, BlackRock’s new ETF offers investors a choice. Bloomberg analyst Eric Balchunas noted that staking yield may not appeal to all investors.
Staking is the process of locking cryptocurrency to help secure the blockchain. It earns rewards but carries risks such as withdrawal delays and slashing penalties.
Recently, several new crypto ETFs launched for coins like Solana (SOL), XRP, and Dogecoin (DOGE). This growth follows positive regulatory developments under President Trump’s administration.
At the time of publication on Monday, ETH was trading around $3,110, down 0.7%.
