JUST IN: BlackRock Announces Controversial Ethereum Spot ETF Decision
BlackRock, one of the world’s largest asset management companies, has published an updated application for its iShares Ethereum ETF product, which includes staking features.
The fund, which will be offered under the name “iShares Staked Ethereum ETF,” will have the ticker symbol $ETHB, and details regarding the fund’s expense ratio and staking revenue sharing have also been clarified in the application.
According to the update, the ETF’s annual expense ratio will be 0.25%. This ratio constitutes the main expense item covering the fund’s management and operational costs.
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Another notable detail in the application was the revenue sharing model for staking. According to this model, 18% of the gross staking return generated by the fund will be allocated as staking fees. This amount will be shared among the sponsor and relevant service providers in return for conducting staking activities.
The remaining 82% will be held within the fund and will contribute to the indirect returns of investors.
During Gary Gensler’s tenure, the SEC only approved Bitcoin and Ethereum spot ETFs that did not include staking features.
*This is not investment advice.
Continue Reading: JUST IN: BlackRock Announces Controversial Ethereum Spot ETF Decision
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