Connect with us

Crypto World

Analyst says BlackRock’s staked Ethereum ETF had a ‘very solid’ debut

Published

on

Analyst says BlackRock’s staked Ethereum ETF had a ‘very solid’ debut

BlackRock’s newly launched staked Ethereum exchange-traded fund posted a strong first trading day, drawing roughly $15.5 million in volume as institutional interest in Ether investment products continues to grow.

Summary

  • BlackRock’s staked Ethereum ETF (ETHB) recorded $15.5M in day-one trading volume.
  • Bloomberg analyst James Seyffart called the debut “very, very solid” for a new ETF.
  • Ethereum is trading around $2,110 at press time, hovering near the key $2K level amid market volatility.

BlackRock’s staked Ethereum ETF posts strong debut with $15.5M in trading

Bloomberg Intelligence ETF analyst James Seyffart said the debut performance of BlackRock’s staked Ethereum ETF, trading under the ticker ETHB, was impressive for a new listing.

“Vast majority 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,” Seyffart wrote on X.

Advertisement

Earlier in the day, Seyffart noted that the fund launched with just over $100 million in assets and had already recorded approximately $11.1 million in trading volume by mid-afternoon in U.S. markets.

The ETF is managed by BlackRock and provides exposure to Ethereum while also incorporating staking, allowing the fund to generate yield from validator participation on the Ethereum network.

Trading data indicates that ETHB’s debut volume reached about $15.5 million with more than 590,000 shares changing hands during its first session. Analysts said that level of activity is considered a solid start for a newly launched ETF, even though some earlier crypto-linked funds recorded larger opening volumes.

Advertisement

The launch comes as Ethereum continues to hover around the psychologically important $2,000 level. Ether is currently trading at roughly $2,110, up about 4% over the past 24 hours.

Market data also shows the cryptocurrency has fluctuated near the $2,000 range in recent days after failing to sustain a rally above $2,200 earlier in the month, highlighting ongoing volatility in the second-largest digital asset.

BlackRock already operates other major crypto investment products, including spot Bitcoin and Ether ETFs.

Advertisement

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto World

Vitalik Buterin Questions AI Strategy of Group He Funded

Published

on

Vitalik Buterin Questions AI Strategy of Group He Funded

Ethereum co-founder Vitalik Buterin said Friday that he is no longer closely aligned with the Future of Life Institute, a group that received SHIB tokens from him in 2021. 

Buterin said the institute originally pitched him a broad roadmap for reducing existential risks, including those tied to artificial intelligence, biology and nuclear threats, along with wider pro-peace and pro-epistemics initiatives. He said that helped motivate the Shiba Inu (SHIB) donation.

Buterin said the institute later moved toward cultural and political advocacy around AI risks, an approach he described as materially different from the strategy outlined when he donated.

“My worry is that large-scale coordinated political action with big money pools is a thing that can easily lead to unintended outcomes, cause backlashes, and solve problems in a way that is both authoritarian and fragile, even if it was not originally intended that way,” he wrote.

Advertisement

Buterin expresses disagreements to FLI’s current approach

The FLI describes its mission as reducing extreme risks and steering transformative technologies to benefit humanity.

“We need policies to help ensure that AI development improves lives everywhere – rather than merely boosts corporate profits,” the organization states on its website. 

Source: FLI

However, Buterin said some of the group’s proposals focus on placing safeguards in biosynthesis devices and AI models so that they refuse to produce harmful outputs.

“I view this as a very fragile solution: there are many ways to jailbreak, fine-tune or otherwise get around such restrictions,” he added. 

Cointelegraph reached out to the FLI for comments, but had not received a response by publication.

Advertisement

Related: Vitalik says ‘at present’ his donations yield better gains than investments

FLI cashed out $500 million from the SHIB donation

In 2021, Buterin received large amounts of SHIB tokens and other dog-themed tokens as developers attempted to use his name as a marketing tactic. He later allocated some of those tokens to charitable causes.