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Global giant BlackRock makes a long-awaited major move regarding Ethereum (ETH)!
BlackRock, the global giant issuing spot ETFs for Bitcoin (BTC) and Ethereum ($ETH), has launched a new ETF.
Thus, BlackRock’s Ethereum staking ETF will begin trading on U.S. exchanges.
Trading of BlackRock’s iShares Staked Ethereum Trust ETF (ETHB) will begin today on the Nasdaq exchange.
ETHB will become the third cryptocurrency ETF launched by BlackRock.
The fund allows investors to invest in spot positions in $ETH while also earning staking rewards.
In addition, ETHB becomes the first cryptocurrency ETF to include a staking feature; ETHB will hold physical Ethereum, but a portion of its assets will be staked in the Ethereum network.
In an interview with CoinDesk, Jay Jacobs, head of U.S. ETFs at BlackRock, said:
“Some investors who already hold Ethereum directly use it for staking, but they hesitate to move their assets into ETFs because they fear losing staking rewards. Integrating staking into the ETF allows investors to retain the benefits of staking while also gaining the operational advantages of ETFs.”
The management fee for ETHB is 0.25%. However, BlackRock plans to reduce this fee to 0.12% during the first year after launch, until the fund’s assets reach $2.5 billion.
Jacobs commented:
“This temporary discount will help us increase market share during the first few months after launching the ETF.”
See also: "Spot cryptocurrency ETFs in the U.S. record inflows for the third consecutive day"
