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Nearly four months after the Securities and Exchange Commission (SEC) acknowledged BlackRock’s filing to permit staking in the firm’s Ethereum ETF, the $10 trillion investment firm has registered a new staked Ethereum Trust.
The iShares Staked Ethereum Trust was incorporated in Delaware today, according to state filings.
BlackRock’s ETHA is the largest Ethereum ETF with more than $13 billion in assets under management (AUM), while the next-largest competitor, Fidelity, holds just $2.5 billion of ETH.
ETH rebounded by 2% on the news, but it is worth noting that the price jump came alongside a broader crypto market bounce following Nvidia’s quarterly earnings report, which sent BTC back above $90,000. ETH is still down 4% on the day despite this relief rally.
A staked Ethereum ETF would mark BlackRock’s first crypto product to offer yield to its investors, potentially signaling a green light for further staked crypto ETFs from BlackRock and other issuers.