BlackRock’s new staked Ethereum exchange-traded fund recorded $15.5 million in trading volume on its first day on the market, a figure that one analyst described as “very, very solid,” even though it remained below the debut performance of two comparable Solana staking funds introduced last year.

According to Nasdaq data, the iShares Staked Ethereum Trust (ETHB) saw 592,804 shares change hands during its first trading session on Thursday. Bloomberg ETF analyst James Seyffart noted in a post on X that the activity translated into roughly $15.5 million in trading volume. “Very, very solid for a day 1 ETF launch,” Seyffart said.

The fund is designed to invest in and stake Ether (ETH), locking the tokens within the Ethereum network to generate yield. By participating in the blockchain’s validation process, the ETF aims to capture staking rewards, which typically deliver an annual yield of around 4%.

Comparison with Solana staking ETF launches

Although the launch performance was notable, ETHB’s first-day trading volume was lower than that of similar staking ETFs tied to the Solana (SOL) token. The Bitwise Solana Staking ETF (BSOL), which debuted in October, recorded $55.4 million in trading activity on its first day. Another product, the REX-Osprey SOL + Staking ETF (SSK), posted $33.7 million in debut trading volume when it launched in July.

The new Ethereum staking fund expands BlackRock’s portfolio of cryptocurrency-related investment products. The firm already manages two major crypto ETFs: the iShares Bitcoin Trust ETF (IBIT) and the iShares Ethereum Trust ETF (ETHA). Data from Farside Investors shows that these two funds have attracted substantial capital since their launch in 2024, drawing inflows of more than $62.8 billion and $11.9 billion respectively.

Structure, assets and fees of the fund

BlackRock is also exploring additional cryptocurrency investment products. Among the proposals under consideration is a Bitcoin Premium Income ETF, which would generate returns by selling covered call options on Bitcoin futures contracts. The newly launched ETHB fund currently holds a portfolio composed of 80% staked Ether and 20% non-staked Ether, according to information published on BlackRock’s website. The ETF began trading with $106.7 million in net assets under management, with Coinbase serving as the custodian for the holdings.

Staking rewards generated through the Ethereum network will be distributed to investors on a monthly basis. These rewards will be produced by network validators operated by Figment, Galaxy Digital and Attestant, a company owned by Bitwise. The ETF charges a sponsor fee of 0.25%, although a temporary waiver will reduce the cost to 0.12% during the first year for the initial $2.5 billion in assets under management.

Sources:

https://www.sec.gov/Archives/edgar/data/2099103/000143774926007771/iset20260311_424b3.htm

https://www.blackrock.com/us/individual/products/348532/ishares-staked-ethereum-trust-etf

https://cointelegraph.com/news/blackrock-staked-ether-etf-ethb-15-million-debut-volume

https://x.com/EricBalchunas/status/1940516260875514325

https://www.nasdaq.com/market-activity/stocks/ethb

https://x.com/JSeyff/status/2032204440082460707

https://farside.co.uk/eth/

https://farside.co.uk/btc/