BroadChain has learned from CoinDesk that BlackRock's staking-enabled Ethereum ETF, the iShares Staked Ethereum Trust ETF (ETHB), commenced trading on Nasdaq on March 12.
The ETHB ETF will hold spot Ethereum and allocate a portion of its assets to network staking. This allows investors to gain exposure to ETH's price while also having the opportunity to earn staking rewards.
ETHB marks BlackRock's third cryptocurrency ETF and its first product to incorporate a staking mechanism.
Previously, BlackRock launched the iShares Bitcoin Trust (IBIT) and the iShares Ethereum Trust (ETHA). IBIT's assets under management have surpassed $55 billion, while ETHA's stand at approximately $6.5 billion.
BlackRock stated that the introduction of staking functionality aims to meet investor demand for both ETH price exposure and yield generation, while maintaining the traditional financial advantages of ETFs in custody, trading, and asset allocation.