BlackRock unveils Ethereum staking ETF combining direct ETH access with rewards
The iShares Staked Ethereum Trust ETF from BlackRock will be available on Nasdaq, providing direct market exposure alongside staking rewards, featuring a discounted 0.12% fee for the initial $2.5 billion.
The world's largest asset manager BlackRock is broadening its cryptocurrency product portfolio with a fresh Nasdaq-traded offering connected to Ethereum's staking mechanism.
On Thursday, BlackRock unveiled its iShares Staked Ethereum Trust ETF, ticker symbol ETHB, characterizing it as an exchange-traded product (ETP) that delivers investors direct Ether (ETH) market exposure while simultaneously producing revenue through the staking of a segment of its ETH asset base.
This launch represents a significant expansion of BlackRock's cryptocurrency investment vehicles, complementing its existing iShares Bitcoin Trust ETF (IBIT) alongside the iShares Ethereum Trust ETF (ETHA). These two ETPs currently dominate their respective categories, commanding over $55 billion and $6.5 billion in assets under management, respectively.
By bringing together spot ether exposure and staking rewards in an ETP, ETHB provides investors with an important new avenue to participate in the ecosystem's evolution.
Robert Mitchnick, BlackRock's global head of digital assets
Upon its initial release, ETHB features a 0.25% sponsor fee accompanied by a promotional one-year waiver, bringing down the effective fee to 0.12% for the first $2.5 billion assets under management.
Investors are increasingly allocating to digital assets as part of their strategic portfolio construction, and ETHB provides access to income and exposure to the asset in a convenient, transparent way.
Jessica Tan, head of Americas for global product solutions at BlackRock