BlackRock's Staked Ethereum ETF Launches With ₱956.18 million ($16 million) Day-One Volume

BlackRock's iShares Staked Ethereum Trust ETF generated ₱956.18 million ($16 million) in trading volume on Thursday. Bloomberg Intelligence Analyst James Seyffart called the launch numbers solid for a first-day ETF on X. The fund, trading under ticker ETHB, launched with $100 million in assets under management.

ETHB differs from standard Ethereum ETFs by participating in the network's proof-of-stake mechanism. The fund stakes its holdings through Coinbase Prime infrastructure, generating yield from transaction validation. BlackRock Head of Digital Assets Robert Mitchnick told CNBC Television that Ethereum is a technology-centered bet around blockchain innovation, and capturing additional yield attracts many investors. Ethereum climbed 2.3% over the past 24 hours to $2,096, still down from its August peak of $4,950. Bitcoin rose 2.2% to $71,539.

BlackRock CEO Larry Fink described tokenization as necessary at the World Economic Forum in Davos, Switzerland. He argued blockchain rails reduce friction, cut fees, and improve transparency. The $14 trillion asset manager positions Ethereum as the anchor for the next era of tokenization and institutional blockchain infrastructure.

Bitmine bought another $120 million worth of Ethereum on Tuesday, bringing its total holdings to $9 billion and staked holdings to $6 billion. The treasury firm shifted from aggressive accumulation to systematic yield generation, with Bitmine Chair Tom Lee maintaining his $250,000 per token prediction.