BlackRock Files for Staked Ethereum ETF with SEC
BlackRock, the largest asset manager globally, has filed with the US SEC for a staked [Ethereum](https://holder.io/coins/eth/) ETF. The proposed iShares Ethereum Staking Trust (ETHB) aims to stake 70%-90% of its ETH holdings and distribute staking rewards quarterly.
- Coinbase Custody Trust will be the custodian for ETH holdings, with Anchorage Digital Bank as an alternative.
- Bank of New York Mellon will handle cash holdings and serve as the trust administrator.
- The fund will operate separately from BlackRock's existing spot [Ethereum](https://holder.io/coins/eth/) fund.
BlackRock's filing follows speculative reports and discussions about the potential impact on retail investors reallocating towards low-cost yield sources.
In parallel, [Ethereum](https://holder.io/coins/eth/) is attempting to break out of a two-month resistance level. It recently surged nearly 3%, reaching $3,180, but then retraced. Analysts suggest that reclaiming support at $3,120-$3,130 could lead to testing higher levels around $3,200-$3,300.
- [Ethereum](https://holder.io/coins/eth/) Dominance (ETHDOM) remains within a macro consolidation range, holding support at 11.67%.
- A drop to consolidation lows is possible but expected within a broader move to increase dominance.
Currently, [Ethereum](https://holder.io/coins/eth/) trades at $3,114, marking a 13.7% weekly increase.
