The top player in the crypto ETF game is confident in yield-bearing Ethereum ETFs despite the crypto winter settling in.
Despite the crypto winter storming in, BlackRock decided to follow through with the registration of the iShares Staked Ethereum Trust ETF. Now listed in Delaware, USA as a statutory trust, this upcoming Ethereum ETF would be the first of this magnitude, as ETHA has over $11B in assets under management (AUM).
Ethereum’s First Staked ETF Gets Delaware Licence
Since the United States Securities and Exchange Commission (SEC) took a more lenient stance toward crypto & blockchain, crypto ETFs have been the talk of the crypto town. Ethereum’s ETF debuted last year right after Bitcoin’s (BTC), but staking was frowned upon. Now, Fidelity, Grayscale, Franklin Templeton & 21Shares have 3-4% annualized staking yield on offer.
Meanwhile, Blackrock’s standalone Ethereum ETF with staking capabilities becomes way more plausible, something the traditional stock markets haven’t seen up to this day. According to Farside Investors, BlackRock’s IBIT ETF already dominates the Bitcoin market in terms of inflows, topping their bags while Grayscale sold.
However, the bullish BlackRock news failed to make a big impression on Ethereum’s (ETH) market value. Even though Ether’s price picked up intra-day gains to restore the $3K level, the 24-hour trend is still on the bearish side.
The largest altcoin dipped harder than Bitcoin (BTC), hitting $2,872 yesterday – a new monthly low that’s got market connoisseurs worried. “This doesn’t pump ETH, don’t know what will”, uttered Ash Crypto, but the Ethereum ETF outflows haven’t stopped for 7 days straight.
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