The U.S.-based asset management giant BlackRock has officially applied to list and trade investment tools related to staked Ethereum, marking the latest move in the company's expansion of its cryptocurrency product line.
BlackRock submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) on Friday, paving the way for its iShares Staked Ethereum Trust exchange-traded fund. Professionals point out that this application is a standard part of the SEC regulatory process, allowing companies to list investment tools like ETFs, but it does not guarantee final approval.
The shares of this staked ETH fund are planned to be listed on the Nasdaq under the trading code ETHB, and it is expected to become one of the first investment products related to staked cryptocurrencies. Notably, Grayscale Investments added staking features to its previously approved spot ETH and mini ETH trusts in October.
Since the first approval of a spot ETH ETF in May 2024, regulators have been cautious in their approval of crypto staking funds. However, industry trends show that Canary Capital submitted a similar staking Injective (INJ) product application to the SEC in July, while Grayscale and Bitwise also launched differentiated staking products related to Solana (SOL) in October.
BlackRock currently manages the largest spot Bitcoin exchange-traded fund—the iShares Bitcoin Trust ETF, which trades under the code IBIT.
Larry Fink, co-founder of BlackRock in 1988, previously stated before the Bitcoin bull market in 2017 that this cryptocurrency "demonstrated the world's demand for money laundering."
As the scale and usage of the U.S. digital asset market continue to grow, the CEO's remarks on crypto investments have noticeably turned positive, including publicly supporting BlackRock's launch of spot Bitcoin ETFs and other crypto products.
At last week's New York Times DealBook Summit, Fink admitted that his views on cryptocurrencies have undergone a "significant shift," although he still described BTC as a "fear asset."
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Original: “BlackRock Applies to List Staked Ethereum (ETH) ETF”
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