Ethereum rose for a fourth straight day and hovered near the $2,000 level on March 12, the same day BlackRock rolled out ETHB, its first staking Ethereum ETF. The launch targets a gap that has limited the appeal of existing Ethereum funds: most of them do not pass staking rewards through to investors.
ETH was trading at $2,056, still stuck inside the range it has held over the past 30 days and nearly 60% below its all-time high of $4,950. According to the source material, existing Ethereum ETFs now hold more than $11.85 billion in assets. Yet those products generally lack staking income, which weakens their appeal for investors comparing ETF exposure with direct on-chain holding. In BlackRock’s existing ETHA fund, holders pay a 0.25% annual fee while giving up recurring yield, even as Ethereum staking returns are estimated at about 3%.
ETHB enters the market with fee waiver and staking angle
The new fund will trade under the ticker ETHB and carries the same 0.25% expense ratio. BlackRock is also offering a temporary waiver of 0.12% for the first year, or until the fund reaches $2.5 billion in assets. That pricing, combined with staking exposure, gives ETHB a clearer value proposition than Ethereum ETFs that charge fees without offering yield.
The article points to a possible rotation out of ETHA and other Ethereum ETFs and into ETHB. It also leaves room for fresh inflows from investors who have so far stayed out of the segment. The product launch matters because it addresses a structural issue that has been present across existing Ethereum funds rather than introducing a minor feature change.
Chart pattern still points to downside pressure
Even so, the ETF launch has not erased the weak chart setup. On the daily chart, Ethereum remains below both the 50-day and 200-day moving averages. The source says this condition has persisted since a death cross formed in November last year.
Price action has also stayed inside a horizontal channel since Feb. 6, with support at $1,843 and resistance at $2,193. In the article’s reading, that channel formed after a sharp decline and fits the structure of a bearish flag. If the pattern resolves lower, the first downside target would be the bottom of the channel at $1,843. A break below that level could open the way toward $1,500.
That leaves ETH with two competing forces in view: a new ETF product that could improve fund flows, and a technical structure that still leans bearish. For now, the market has a clear line to watch. ETHB’s early asset gathering and Ethereum’s ability to break above the top of the current range are likely to shape the next move.