The iShares Staked Ethereum Trust ETF from BlackRock will be traded on the Nasdaq. It will give investors spot exposure and staking revenue, with a lower fee of 0.12% on the first $2.5 billion.
BlackRock is incorporating a new Ethereum staking-related product into its portfolio of Nasdaq-traded crypto investments.
BlackRock announced the iShares Staked Ethereum Trust ETF, or ETHB, on Thursday. They called it an exchange-traded product (ETP) that gives investors exposure to spot Ether (ETH $2,067) while making money by staking some of its ETH holdings.
Source: iShares
New ETF expands BlackRock’s crypto product line
The iShares Bitcoin Trust ETF (IBIT) and the iShares Ethereum Trust ETF (ETHA) are two of BlackRock’s other digital asset products. With more than $55 billion and $6.5 billion in assets under management, respectively, both ETPs are the largest in their class.
Robert Mitchnick, BlackRock’s global head of digital assets, stated, by combining spot ether exposure and staking rewards in an ETP, ETHB gives investors a new way to be part of the ecosystem’s growth.
When it first starts, ETHB charges a 0.25% sponsor fee, which is waived for the first year. This lowers the price to 0.12% on the first $2.5 billion in assets under administration.
Jessica Tan, head of Americas for global product solutions at BlackRock, stated, investors are increasingly allocating to digital assets as part of their strategic portfolio construction. ETHB provides access to income and exposure to the asset in a convenient, transparent way.