- BlackRock’s iShares Staked Ethereum Trust ETF (ETHB) began trading on Nasdaq on March 13 with US$100 million in initial assets and roughly US$16 million in day-one volume.
- The fund stakes up to 95% of its ETH holdings via Coinbase Prime, delivering approximately 3.1% annual yield to investors.
- BlackRock’s Robert Mitchnick confirmed the firm will take a “discerning approach” to new crypto ETFs and will not pursue exotic fund structures.
BlackRock said it is taking a cautious approach to expanding its digital asset products. The firm’s head of digital assets, Robert Mitchnick, said the company will evaluate potential future launches selectively.
He described Ethereum as primarily a technology-focused investment tied to blockchain innovation, contrasting it with Bitcoin’s role as a store-of-value asset.
Will we see some more exotic structures coming into the space? I think there is no question. Some of those will be interesting. Some of them will resonate with investors. But we will take a discerning approach in thinking about where else we would expand in this.
Robert Mitchnick, Head of DIgital Assets at BlackRock. The company’s earlier crypto ETFs have attracted significant capital, with the iShares Bitcoin Trust (IBIT), launched in January 2024, recording about US$55 billion (AU$84.15 billion) in inflows.
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Meanwhile, the iShares Ethereum Trust (ETHA), introduced in July 2024, has accumulated roughly US$6.5 billion (AU$9.95 billion) in assets.
Moderately successful, hence why BlackRock said the staking component is intended to provide investors with income alongside exposure to ETH’s price, but the product launches at a time when ETH trades near US$2,096 (AU$3,207), significantly below its August 2025 peak of about US$4,950 (AU$7,574).
Staking ETF in a Weak Ethereum Market
BlackRock launched its third cryptocurrency exchange-traded fund on March 13, listing the iShares Staked Ethereum Trust ETF (ETHB) on Nasdaq with US$100 million (AU$153 million) in seed capital.
The fund generated roughly US$16 million (AU$24.5 million) in trading volume on its first day, which Bloomberg Intelligence analyst James Seyffart described as a strong debut for a new ETF.
ETHB holds spot ETH and stakes between 70% and 95% of its holdings on the Ethereum network through Coinbase Prime. Investors receive about 82% of the gross staking rewards, which equates to an estimated annual yield of around 3.1% at current rates. BlackRock and Coinbase share the remaining 18% as a staking fee.
The ETF charges a sponsor fee of 0.25%, though a temporary promotional rate of 0.12% will apply during the first year or until the fund reaches US$2.5 billion (AU$3.83 billion) in assets.
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Across all digital asset exchange-traded products, BlackRock now manages about US$130 billion (AU$198.9 billion) and accounted for around 95% of inflows into crypto ETPs during 2025.
The firm’s next planned crypto offering is a Bitcoin Premium Income ETF that will use covered call options on BTC futures to generate yield.
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