📅 February 17 - United States | BlackRock, the world's largest asset manager, has taken the first formal step toward launching a staking Ethereum ETF in the US. According to an amendment filed with the SEC, a subsidiary of the firm acquired 4,000 seed shares at $25 each, contributing $100,000 of initial capital to the new vehicle.
📖 The fund, called the iShares Staked Ethereum Trust ETF (previous ticker: ETHB), plans to stake between 70% and 95% of the ETH in custody under normal market conditions, seeking to generate additional returns for investors.
BlackRock estimates that recent annualized rates are around 3%, although it warns that these levels do not guarantee future returns and that rewards have decreased as validator participation increases.
Unlike its current spot ETF (ETHA), which only replicates the price of ether without generating yield, this new product will incorporate staking income. The fund will charge an annual fee of 0.25%, reduced promotionally to 0.12% for the first $2.5 billion in assets during the first year.
Regarding rewards, 18% of the gross staking will be retained by the sponsor (BlackRock) and the execution agent (Coinbase Prime), while the remainder will be credited to the trust and ultimately to the shareholders. Between 5% and 30% of the ETH will remain unstaken to facilitate operational liquidity, creations, and redemptions.
Topic Opinion:
It's no longer just about price exposure, but about capturing native on-chain performance within a regulated vehicle.
💬 Do you think staking ETFs will attract more institutional capital than traditional spot ETFs?
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