BlackRock Staked Ethereum Fund Tops $250 Million in Its First Week
BlackRock's iShares Staked Ethereum Trust (ETHB) reached $254 million in assets under management within a week of its launch on Nasdaq on March 12, 2024. Investors purchased $146 million in shares following its debut, in addition to over $100 million in seed capital from BlackRock Financial Management. The fund stakes between 70–95% of its Ethereum holdings, distributing 82% of staking rewards to investors monthly, with the remaining 18% allocated to the trust, custodians, and service providers. ETHB charges a 0.25% sponsor fee, discounted to 0.12% for the first year on up to $2.5 billion in assets. Validators include Figment, Galaxy Blockchain Infrastructure, and Attestant. ETHB competes with similar products from Grayscale and REX-Osprey. Unlike Grayscale’s Ethereum staking ETFs, which added staking after initial launch, BlackRock’s fund incorporated staking from the outset. As of the latest data, Ethereum’s price has fallen to $2,126, reflecting a broader market downturn.
