- BlackRock has filed for an iShares Ethereum Staking Trust with the US Securities and Exchange Commission (SEC).
- Meanwhile, WisdomTree has filed for the first fully collateralized Ethereum ETP in the European Union.
In November, BlackRock confirmed its intention to launch the iShares Ethereum Staking Trust (ETHB) after registering the name in Delaware.
Last Friday, BlackRock submitted its S-1 Registration Statement with the SEC. This begins the review process by the authority.
In June 2024, BlackRock launched an Ethereum spot ETF on Nasdaq, offering investors regulated exposure in Ethereum offers. However, the regulator at the time, led by Gary Gensler, did not allow ETFs to generate investment income through staking.
Under the new SEC chairman Paul Atkins, this is now being moved away from. BlackRock and VanEck are among the issuers resubmitting or modifying their ETF applications to allow staking.
While others are modifying their existing products, BlackRock has decided to launch an entirely new fund.
According to the application, the iShares Ethereum Staking Trust fund will not only track the price of Ethereum, but also provide staking returns at the same time. The application states:
“The Trust will not use leverage, derivatives or similar arrangements to achieve its investment objective.”
According to the filing, Coinbase Custody will serve as the primary custodian, while Anchorage Digital is listed as a secondary alternative. BlackRock announced that the filing, once approved, will trade on Nasdaq under the ticker ETHB. Only authorized participants are allowed to create or redeem shares in large blocks.
No Comments