BlackRock’s ‘Ethereum Staking ETF’…to list on Nasdaq today

Global asset manager BlackRock’s Ethereum (ETH) staking exchange-traded fund (ETF) is set to debut on U.S. markets.

According to CoinDesk on the 12th (local time), BlackRock’s iShares Staked Ethereum Trust ETF (iShares Staked Ethereum Trust ETF·ETHB) will list on Nasdaq that day. ETHB is BlackRock’s third cryptocurrency ETF.

One of ETHB’s distinguishing features is that it supports Ethereum staking. ETHB is the first time BlackRock has introduced staking into a crypto ETF. CoinDesk reported, “ETHB will hold spot Ethereum and stake a portion of its holdings on the Ethereum network,” adding that this will “allow investors to capture gains from price moves while also receiving additional rewards.”

BlackRock says the benefits of a staking ETF are clear. Jay Jacobs, BlackRock’s head of U.S. equity ETFs, told CoinDesk, “Some investors who already hold Ethereum directly are staking it, but they hesitate to move those assets into an ETF out of concern they would forgo staking rewards,” adding, “By integrating staking into an ETF, we enabled investors to retain the benefits of staking while also enjoying the operational advantages of an ETF.”

ETHB’s management fee is 0.25%. However, BlackRock plans to reduce the fee to 0.12% for the first year after launch until assets reach $2.5 billion. Jacobs said, “This temporary fee waiver will help build market share in the first few months after the ETF’s launch.”

Meanwhile, BlackRock manages more than $60 billion in assets through its existing crypto ETFs. CoinDesk said, “BlackRock is currently running more than $55 billion via its spot Bitcoin ETF and more than $6.5 billion via its spot Ethereum ETF.”