BlackRock, a global giant with spot Bitcoin (BTC) and Ethereum (ETH) ETFs, has launched a new ETF.
Accordingly, BlackRock’s Ethereum staking ETF will begin trading on US exchanges.
BlackRock’s iShares Staked Ethereum Trust ETF (ETHB) will begin trading on Nasdaq today.
ETHB will be the third cryptocurrency ETF launched by BlackRock.
The fund offers investors exposure to spot ETH positions as well as the opportunity to earn staking rewards.
Furthermore, ETHB becomes the first cryptocurrency ETF to include staking functionality; ETHB will hold physical Ethereum but will stake a portion of its assets on the Ethereum network.
Speaking to Coindesk, Jay Jacobs, BlackRock’s US ETF manager, said, “Some investors who already hold Ethereum directly are staking it, but they are hesitant to move their assets to an ETF for fear of losing staking rewards. By integrating the staking function into the ETF, investors can retain the benefits of staking while also taking advantage of the operational advantages of an ETF.”
ETHB’s governance fee is 0.25%. However, BlackRock plans to reduce the fee to 0.12% during ETHB’s first year after launch, until its assets reach $2.5 billion.
Jacobs commented on the matter, saying, “This temporary discount will help us gain market share in the first few months after the ETF’s launch.”
*This is not investment advice.
