- BlackRock‘s new staked Ethereum ETF, ETHB, launched with $15.5 million in trading volume, described as a “very, very solid” debut by an analyst.
- The fund’s first-day volume trailed similar Solana staking ETFs from 2024, which generated $55.4 million and $33.7 million respectively.
- ETHB holds a mix of staked and unstaked Ether and launches with $106.7 million in assets, offering investors staking rewards derived from a 4% annual yield.
- The fund’s staking rewards are distributed monthly and generated by validators run by Figment, Galaxy Digital, and Attestant.
- This product expands BlackRock’s crypto ETF lineup, which includes the successful IBIT and ETHA funds.
BlackRock’s iShares Staked Ethereum Trust (ETHB) traded $15.5 million worth of shares on its Nasdaq debut Thursday, marking a significant entry for the world’s largest asset manager into yield-generating crypto products.
Bloomberg ETF analyst James Seyffart called the performance “very, very solid for a day 1 ETF launch.” Consequently, the fund adds to BlackRock’s growing crypto suite anchored by its iShares Bitcoin and Ethereum Trust ETFs.
Those flagship products have attracted over $62.8 billion and $11.9 billion respectively.
ETHB’s debut volume, however, fell short of two comparable Solana staking ETFs. First, the Bitwise Solana Staking ETF (BSOL) recorded $55.4 million in volume last October.
Another similar fund, the REX-Osprey SOL + Staking ETF (SSK), posted $33.7 million in its first trading day in July.
The new ETF invests and stakes Ether to provide a yield, typically around 4% annually. According to its website, ETHB holds a portfolio of 80% staked Ether and 20% Ether.
Staking rewards will be obtained from Ethereum network validators run by Figment, Galaxy Digital, and Bitwise-owned Attestant. These rewards are scheduled for monthly distribution to shareholders.
Securities filings detail the fund’s structure and fee schedule. Meanwhile, Coinbase serves as the custodian for the fund’s $106.7 million in launch assets.
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