Bitcoin ETF Giant BlackRock Files to Launch Ethereum Staking ETF

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BlackRock filed an S-1 registration statement with the SEC on Friday for ETHB—a new staked Ethereum trust exchange-traded fund.


Unlike the firm’s popular iShares Ethereum Trust spot ETF (ETHA), the staking Ethereum trust ETF will track the performance of Ethereum and add rewards earned from the trust’s staked ETH.


“The trust is a passive investment vehicle that does not seek to generate returns beyond tracking the price of Ethereum and staking some portion of the Ethereum it holds (which may vary from time to time),” the filing reads.





The firm’s S-1 registration filing follows the November formation of the Delaware statutory trust, an act that typically precedes the ETF filing for crypto and commodity products. 


Previously, BlackRock had sought approval to add a staking component to its spot Ethereum ETF, ETHA. While the SEC had acknowledged requests as early as July, it continued to push back a formal decision, last delaying a decision in early September.


It’s unclear how ETHB’s filing will affect any plans for staking additions to ETHA. A representative for BlackRock told Decrypt the firm could not comment on its ETHB ETF filing at present time.


Ethereum staking ETFs hit the market following the creation of generic listing standards for commodity trusts. Grayscale’s ETHE was first to market in early October, followed by the REX-Osprey ETH + Staking ETF.


But so far, they haven’t eaten into the success of BlackRock’s existing spot ETF.


ETHA has more than $11 billion in funds under management, or around 3.6 million ETH, compared to less than $5 billion (or 1.8 million ETH) for Grayscale’s ETHE and ETH Mini Trust ETFs combined.



BlackRock’s ETF success is also apparent in the Bitcoin market, highlighted by its iShares Bitcoin Trust ETF (IBIT), which is the largest crypto ETF on the market with around $70 billion in assets under management. 


IBIT is up around 1% on Monday as Bitcoin has fallen 1% in the last 24 hours to trade at $90,390. ETHA has jumped more than 3% as Ethereum is roughly flat, changing hands at $3,122. 


When approved, the iShares Staked Ethereum Trust ETF (ETHB) is expected to trade alongside BlackRock’s other ETFs on the Nasdaq exchange.


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