BlackRock launched its iShares Staked Ethereum Trust ETF, ETHB, on its first day, with trading volume around $15.5 million. The fund opened with just over $100 million in assets and had raked in more than $11 million in trading volume by 2 p.m. Eastern time. By day’s end, it had added another $4 million to close at $15.5 million. The analyst described the performance as “very, very solid for a day 1 ETF launch.”
Coinbase is listed as the custodian and staking provider, with ETH delegated to a small number of approved validators, including Figment, Galaxy Blockchain Infrastructure, and Attestant. Bitwise has acquired Attestant and is rebranding it as Bitwise Onchain Solutions. Instead of adding staking rewards to the fund’s net asset value, BlackRock will pay them out as monthly dividends. The move reflects a broader shift in institutional use of Ethereum, with more products built on and around the Ethereum network.
ETH was trading around $2,100, about 3% higher than 24 hours earlier and roughly 6% higher than a month ago. The ecosystem continues to attract traditional and new investors.
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