iShares Submits Ethereum Staking ETF Application, Plans to List on Nasdaq

Odaily News: According to an SEC filing, iShares, a subsidiary of BlackRock, has submitted an amended S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) for the iShares Staked Ethereum Trust ETF. This ETF will primarily hold Ethereum and earn rewards by staking a portion of the Ethereum.

According to the document, the trust will use Coinbase Custody Trust Company as the Ethereum custodian and has entered into a staking services agreement with Coinbase Inc. Under normal market conditions, the trust plans to stake 70%-95% of its Ethereum assets, while retaining a certain percentage of non-staked Ethereum as a liquidity reserve to meet redemption demands. The ETF will be listed on the Nasdaq exchange under the ticker symbol "ETHB".