BlackRock Seeks Approval for Staked Ether ETF Listing
BlackRock has filed to list a new investment trust linked to staked Ether, pending SEC approval, marking a significant step in cryptocurrency fund offerings.
BlackRock, a notable asset management firm based in the U.S., has launched an application to introduce a new investment vehicle associated with staked Ether, capitalizing on the evolving market for cryptocurrency offerings.
In a filing submitted to the U.S. Securities and Exchange Commission (SEC), BlackRock registered a Form S-1 statement for its iShares Staked Ethereum Trust ETF. This process is a requisite for companies looking to list investment vehicles like ETFs, although it doesn’t guarantee that approval will be granted.
BlackRock staked Ether ETF filing on Friday. Source: SEC
The staked Ether fund, which will be listed under the ticker ETHB on Nasdaq, is poised to be one of the pioneering offerings connected to staked digital currencies. Recently, Grayscale Investments introduced staking options for its previously authorized ETH and mini ETH trusts.
Since approving spot Ether ETFs in May 2024, the SEC has not sanctioned many crypto staking funds. However, similar filings have been made, including Canary Capital’s recent application for a staked Injective product.
As the largest manager of a Bitcoin ETF, BlackRock operates the iShares Bitcoin Trust ETF under the symbol IBIT.
Has Larry Fink Changed His Stance on Cryptocurrency?
Larry Fink, who co-founded BlackRock in 1988, expressed skepticism about Bitcoin during its price surge in 2017, linking it to funding for illicit activities. However, with the growth of the digital asset market, Fink has become increasingly supportive of crypto investments, including backing the launch of a Bitcoin ETF.
At last week’s DealBook Summit, Fink indicated a significant evolution in his perspective on cryptocurrency, albeit he continues to describe BTC as an “asset of fear.”
Related: Spot Ether ETF staking could ‘dramatically reshape the market’
