BlackRock launched a staked Ether exchange-traded fund on Thursday, expanding its crypto offerings beyond its flagship spot Bitcoin and Ether ETFs that launched in 2024.
BlackRock’s digital assets head, Robert Mitchnick, said the $14 trillion asset manager won’t get too creative with the types of crypto exchange-traded funds it offers, even as it launched a staking-focused Ether ETF on Thursday.
BlackRock launched the iShares Staked Ethereum Trust (ETHB) on Thursday, which saw over $15.5 million in trading volume and $43.5 million in inflows on debut, according to Farside Investors data.
ETHB is BlackRock’s second Ether product, following the iShares Ethereum Trust ETF (ETHA), which has accumulated almost $12 billion worth of inflows since launching in July 2024.
The regular distributions to investors would, however, trade away potential upside from investing in BlackRock’s iShares Bitcoin Trust ETH (IBIT), which mirrors Bitcoin’s spot price.
Speaking of IBIT, Mitchnick noted that investors of BlackRock’s flagship Bitcoin product have been “disproportionately long-term buy and hold” investors —even when there’s been strong selling pressure elsewhere in the Bitcoin ecosystem.
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