Asset management giant BlackRock launched the “iShares Pledged Ethereum Trust ETF (ETHB)” on Thursday. On its first day of trading, it achieved impressive results, with a daily trading volume exceeding $15.5 million, marking a new milestone for institutional investment in the Ethereum ecosystem.
Bloomberg ETF analyst James Seyffart posted on social platform X: “Most of the trading has already been completed, with a trading volume reaching $15.5 million.”
He added that, for a new ETF debut, this is definitely a “very solid start.” Additionally, Seyffart also revealed earlier that ETHB’s asset size at launch had already exceeded $100 million.
Most of the trading is done, and we are at $15.5 million in trading volume for the BlackRock staked Ethereum ETF — $ETHB. Very very solid for a day 1 ETF launch https://t.co/5f9VeA9ivq pic.twitter.com/MpwRqeHnwU
— James Seyffart (@JSeyff) March 12, 2026
ETHB is BlackRock’s third cryptocurrency ETF and also the company’s first product to incorporate staking mechanisms into its structure.
Specifically, ETHB will hold Ethereum spot tokens directly and stake a portion of these tokens. In other words, investors can participate in Ethereum price movements directly and also enjoy staking rewards.
In fact, BlackRock hinted as early as 2025 that it was interested in entering the “staking crypto ETF” blue ocean. According to the latest S-1 registration statement filed with the U.S. Securities and Exchange Commission (SEC), BlackRock quietly accumulated Ethereum in the market as early as February this year to pave the way for ETHB’s listing.
Operationally, under normal market conditions, ETHB will stake between 70% and 95% of its Ethereum holdings and retain the remaining 5% to 30% to meet fund subscription, redemption, and daily liquidity needs.
Regarding the most concerned “income distribution mechanism,” approximately 82% of staking rewards will be paid monthly to ETF holders; the remaining 18% will be distributed to the issuer and the executing agent.
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