All Eyes On Ethereum: Price Attempts Key Breakout As BlackRock Files For Staked ETH ETF

After weeks of speculation, BlackRock, the world’s largest asset manager, has officially filed for a staked Ethereum (ETH) Exchange-Traded Fund (ETF) with the US Securities and Exchange Commission (SEC). Amid the bullish news, the King of Altcoins’ price is attempting to break out of a two-month resistance, which could set the stage for a retest of higher levels. Related Reading: XRP ETFs Record 13-Day Streak As SOL Funds See Largest Outflows Since Launch BlackRock Files For Staked Ethereum ETF BlackRock has submitted an S-1 form with the US SEC to get approval for its iShares Ethereum Staking Trust (ETHB), which “seeks to reflect generally the performance of the price of ether and rewards from staking a portion of the Trust’s ether, to the extent the Sponsor in its sole discretion determines that the Trust may do so without incurring undue legal or regulatory risk. ” Filed on December 5, BlackRock’s registration statement explains that, if approved, the proposed fund aims to stake 70% to 90% of its Ethereum holdings, distributing staking rewards to stakeholders at least quarterly source: https://www.newsbtc.com/news/ethereum-key-breakout-blackrock-files-staked-eth-etf/