BlackRock launched a staked Ether exchange-traded fund on Thursday, expanding its crypto offerings beyond its flagship spot Bitcoin and Ether ETFs that launched in 2024. BlackRock’s digital assets head, Robert Mitchnick, said the $14 trillion asset manager won’t get too creative with the types of crypto exchange-traded funds it offers, even as it launched a staking-focused Ether ETF on Thursday. Speaking on CNBC’s Crypto World segment on Friday, Mitchnick acknowledged that some of the crypto ETF structures that other asset managers are experimenting with may appeal to certain investors, but said BlackRock will continue to take a more measured approach: "Will we see some more exotic structures coming into the space? I think no question,” Mitchnick said. “Some of those will be interesting. Some of them will resonate with investors.” Read more
The iShares Staked Ethereum Trust will distribute staking rewards on a monthly basis from institutional-grade Ethereum validators run by Figment, Galaxy Digital and Attestant. BlackRock’s staked Ethereum exchange-traded fund has tallied $15.5 million in trading volume on its first trading day, which a market analyst described as “very, very solid” despite falling short of two similar Solana staking products that launched last year. Nasdaq data shows the iShares Staked Ethereum Trust (ETHB) had 592,804 shares traded on its debut on Thursday, with Bloomberg ETF analyst James Seyffart noting on X that the product turned over around $15.5 million. “Very, very solid for a day 1 ETF launch,” Seyffart said. Read more
BlackRock’s iShares Staked Ethereum Trust ETF will trade on the Nasdaq, offering spot exposure and staking income with a reduced 0.12% fee on the first $2.5 billion. BlackRock is expanding its crypto investment lineup with a new Nasdaq-listed product tied to Ethereum staking. BlackRock on Thursday introduced its iShares Staked Ethereum Trust ETF, or ETHB, describing it as an exchange-traded product (ETP) that combines spot Ether (ETH) exposure with “monthly income potential” by staking a portion of its ETH holdings. The product expands BlackRock’s digital asset offerings, which include the iShares Bitcoin Trust ETF (IBIT) and the iShares Ethereum Trust ETF (ETHA). Both ETPs are the largest in their class, with more than $55 billion and $6.5 billion in assets under management, respectively. Read more
STRC’s average daily volume implies buying power for about 1,940 BTC per day, more than four times the amount of new Bitcoin mined. Michael Saylor’s Strategy (MSTR) may reach the 1 million Bitcoin (BTC) milestone faster than expected, potentially overtaking BlackRock in total holdings. Key takeaways: STRC share sales have generated cash to acquire over 3,500 BTC so far this week. Read more
BlackRock’s spot Bitcoin ETF drew $322 million in inflows Tuesday, offsetting outflows from rival funds including Fidelity and Grayscale. US spot Bitcoin ETFs saw mixed trading flows on Tuesday, with BlackRock’s iShares Bitcoin Trust ETF (IBIT) offsetting redemptions. Spot Bitcoin (BTC) exchange-traded funds (ETFs) logged $225.2 million in net inflows, according to data from SoSoValue. The gains were driven largely by IBIT’s $322.4 million in inflows, which offset $89.3 million in outflows from Fidelity Wise Origin Bitcoin Fund (FBTC) and $28.2 million from Grayscale Bitcoin Trust ETF (GBTC), according to Farside data. Read more
Bitcoin and Ether rebounded modestly as ETF outflows mounted, while BlackRock entered DeFi and Binance completed its $1 billion Bitcoin reserve shift. BlackRock made its first formal move into decentralized finance this week, listing its tokenized Treasury fund on Uniswap, with Bitcoin and Ether staging only modest rebounds amid heavy ETF outflows. Bitcoin (BTC) and Ether (ETH) each rose about 2.5% during the past week but were unable to cross key psychological levels due to mixed exchange-traded fund (ETF) flows and crypto investor sentiment sinking to record lows. Bitcoin ETFs started the week with two consecutive days of inflows, but they quickly reversed with $276 million in outflows on Wednesday and $410 million on Thursday. Read more
BlackRock is bringing its $2.1 billion tokenized Treasury fund to Uniswap, expanding institutional access to DeFi and deepening Wall Street’s push into onchain finance. Asset management giant BlackRock is making its first formal move into decentralized finance by bringing its tokenized US Treasury fund to Uniswap, marking a milestone moment for institutional adoption of DeFi. According to a Wednesday announcement, BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) will be listed on the Uniswap decentralized exchange, allowing institutional investors to buy and sell the tokenized security. As part of the arrangement, BlackRock is also purchasing an undisclosed amount of Uniswap’s native governance token, UNI, the announcement said. Read more
Traders were active in BlackRock’s iShares Bitcoin Trust ETF on Thursday as Bitcoin plummeted, falling 12% in the last 24 hours. BlackRock’s spot Bitcoin exchange-traded fund (ETF) has reportedly seen an all-time peak daily trading volume as traders responded to Bitcoin’s rapidly crashing price. The iShares Bitcoin Trust ETF (IBIT) “crushed its daily volume record” on Thursday, with $10 billion worth of shares trading hands, Bloomberg ETF analyst Eric Balchunas said on X. Balchunas added that IBIT dropped 13% on the day, its “second-worst daily price drop since it launched,” with its biggest daily price crash coming in at 15% on May 8, 2024. Read more