Good news, BlackRock's Ethereum ETF staking scheme has officially been released Bad news, just like Grayscale, we also need to sell the ETH obtained from staking for dividends It seems that ETFs are going to all adopt the mining and selling mode According to BlackRock's latest submission to the SEC, it is explicitly stated that the pledged ETH will be regularly sold for cash and distributed to investors. This way, every time BlackRock distributes dividends, a portion of the ETH will be thrown into the market. Currently, BlackRock holds 3.2 million Ethereum, and at a pledge yield of 2.8%, if all of them are pledged, they will receive 89000 ETH and corresponding selling pressure per year. However, the document states that BlackRock will intercept 18% of the staking income from it. You will definitely breathe a sigh of relief when you see this figure. Even if all the staking income is sold, compared to the current 0.25% management fee, BlackRock will definitely have more motivation to promote Ethereum ETFs to attract deposits. Wait, you forgot that this 18% comes from staking income, and the staking income rate is 2.8%, which means that BlackRock actually receives 2.8% * 18%=0.54%, and also needs to be divided by the custodian Coinbase. In the end, what falls into BlackRock's hands is slightly more than the management fee So it's quite awkward for BlackRock to have this extra profit figure. In addition, the pledged version of the ETF is a brand new ETF called ETHB, previously called ETHA, and the disclosed documents currently show that these two ETFs do not have a smooth conversion plan for each other. Therefore, if you hold ETHA now and want it to make a profit, you must first sell it and then buy it as ETHB. However, both of these are backed by BlackRock, so it is unlikely that there will be too much market volatility if the bottom is left to right. As for the matter of staking on Ethereum ETFs, whether it is a good thing or a bad thing, it is up to the guests to judge for themselves. File link: https://www.sec.gov/Archives/edgar/data/2099103/000143774926004276/iset20260214_s1a.htm