BlackRock has shocked the crypto market with the launch of the iShares Staked Ethereum Trust (ETHB), an ETF that allows investors to earn rewards from Ethereum through staking.
At the time of writing, Ethereum is currently trading at $2,126.97, down 0.08% since it opened early Friday in Asian trading.
ETHB’s first day of trading saw $15.5 million, a feat that analysts consider very strong, although slightly lower than the Solana staking product launched last year.
ETHB focuses 80% of its assets on staked Ethereum and 20% on regular Ethereum, with staking rewards distributed monthly.
The fund started with $106.7 million in net assets managed by Coinbase, while network validators include Figment, Galaxy Digital, and Attestant.
The ETF offers an annualized return of around 4% and low fees, making it attractive to crypto investors looking to support the Ethereum network while earning returns.
The launch of ETHB adds to BlackRock’s already well-known crypto portfolio of other Bitcoin and Ethereum ETFs, solidifying the company’s position as a major player in the digital investment world.
The ETF is seen as a new opportunity for those looking to gain income from Ethereum without having to manage their own staking.
