BlackRock
BlackRock has introduced its first staking Ethereum ETF, ticker ETHB, on March 12, offering investors staking rewards previously unavailable in similar funds. Ethereum's price, trading at around $2,056, has been rising for four days but remains in a horizontal channel indicative of a bearish flag pattern. This development comes as existing Ethereum ETFs hold over $11.85 billion in assets without staking benefits.
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Harvard Management Company has reallocated a significant portion of its cryptocurrency holdings from BlackRock's iShares Bitcoin Trust to the iShares Ethereum Trust. Meanwhile, BlackRock prepares to launch ETHB, an Ethereum ETF designed to offer staking rewards in a regulated U.S. structure. These developments highlight increasing institutional interest in Ethereum alongside Bitcoin.
BlackRock has sold off a significant amount of bitcoin and ethereum, totaling $344 million, according to on-chain data. The transaction occurred rapidly, highlighting the firm's continued activity in cryptocurrency markets. This move follows previous similar actions by the asset manager.
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Ethereum cofounder Vitalik Buterin has issued stark warnings about the vulnerability of cryptocurrency encryption to quantum computers and the growing dominance of institutions like BlackRock. These concerns come amid a sudden sell-off in bitcoin and ethereum prices, which have plunged below key psychological levels. Buterin emphasized the need for decentralization to counter these risks.