温馨提示：本站仅提供公开网络链接索引服务，不存储、不篡改任何第三方内容，所有内容版权归原作者所有
AI智能索引来源：http://www.bee.com/hi/54357.html
点击访问原文链接

BlackRock enters the ETH collateralized ETF, which tracks and projects will benefit first? | Bee Network

进入原网站 导航首页
BlackRock enters the ETH collateralized ETF, which tracks and projects will benefit first? | Bee Network Login ट्रेंडिंग न्यूज़ मीम लॉन्चपैड एआई एजेंट डेस्सी टॉपचेनएक्सप्लोरर न्यूबी के लिए 100x सिक्के मधुमक्खी खेल आवश्यक वेबसाइटें एपीपी अवश्य होना चाहिए क्रिप्टो हस्तियाँ डेपिन नौसिखिया आवश्यक ट्रैप डिटेक्टर बुनियादी उपकरण उन्नत वेबसाइटें एक्सचेंजों एनएफटी उपकरण नमस्ते, साइन आउट वेब3 यूनिवर्स खेल डीऐप मधुमुखी का छत्ता बढ़ता हुआ मंच विज्ञापन खोज अंग्रेज़ी रिचार्ज सिक्के लॉग इन करें डाउनलोड करना वेब3 यूनी खेल डीऐप मधुमुखी का छत्ता विज्ञापन घर•विश्लेषण•BlackRock enters the ETH collateralized ETF, which tracks and projects will benefit first? BlackRock enters the ETH collateralized ETF, which tracks and projects will benefit first?विश्लेषण7 महीने पहलेहाँव्याट 25,783 9 On July 17, global asset management giant BlackRock made another precise move – its iShares Ethereum Trust Fund (ETHA) officially submitted a 19 b-4 document to the U.S. Securities and अदला-बदली Commission (SEC), intending to introduce a pledge function for its Ethereum ETF.

Although Franklin Templeton, Grayscale, 21 Shares and Fidelity had already submitted similar proposals, when BlackRock joined the battle, market sentiment instantly heated up. The reason is simple: BlackRock is not the fastest one, but it always becomes the one that successfully passes in the end, which once again ignited the outside worlds strong expectations for the SEC to release pledged क्रिप्टो ETFs.

According to analysts estimates, the SEC is expected to give a preliminary response to the early submitted pledge proposals before October this year. If the review goes smoothly, the formal approval time may be brought forward to the fourth quarter of 2025.

At present, the total assets under management of Ethereum spot ETFs have exceeded 17 billion US dollars, of which ETHA ranks first with a scale of 8.7 billion US dollars. If the staking function is approved, it will not only reshape the investment logic of Ethereum, but also inject new growth momentum into the entire on-chain ecosystem. This article will focus on this historic turning point and systematically sort out which tracks and projects will benefit first after the Ethereum ETF introduces the staking mechanism.

From a speculative tool to an income asset, ETHs asset attributes are being reshaped For ETH, the launch of a collateralized ETF may mean a structural reassessment of the nature of the asset.

Compared with traditional financial assets, Ethereum has a native advantage – it is not only a speculative asset, but also can obtain staking rewards by participating in on-chain verification, and the current actual annualized return rate is about 3.5%. Once the ETF is approved to introduce a staking mechanism, its investment logic will be upgraded from a single price increase expectation to a dual-engine drive of price + return. This model is similar to holding treasury bonds to earn interest or holding blue-chip stocks to receive dividends, and will become the first US cryptocurrency ETF to provide returns to institutional and retail investors. This shift could transform Ethereum into a financial asset that can generate income within a regulated investment tool, making it an attractive option for traditional finance.

Eric Jackson, founder of EMJ Capital, once predicted that Ethereum is expected to hit $10,000 or even higher in this cycle. His model attributes ETHs potential growth momentum to four major factors: its stable 3.5% staking yield, the net negative issuance trend since the merger, the new demand brought by the upcoming approval of staking ETFs, and the growth of network activity driven by Layer 2 and tokenized assets. Jacksons team pointed out that the supply and demand structure of ETH is tightening rapidly, and if the ETF passes faster than expected, coupled with the large-scale adoption of Layer 2, it is not a fantasy for ETH to break through $15,000 in the next few quarters.

Who is the real winner in the staking track? Liquidity Staking Protocol The biggest technical and operational challenge of integrating the staking function into the Ethereum ETF is liquidity management. Unlike the T+0 tradable feature of traditional financial assets, once ETH is staked, it will be locked in the network, and exiting requires a formal release process. According to the design of the Ethereum protocol, when a validator chooses to exit the stake, he must wait for multiple stages such as queuing for block generation and block confirmation, and the exit queue is limited by the current load of the network-during peak periods, this process may last for days or even weeks.

This is a thorny issue for ETF issuers. ETF products must ensure that users can buy, sell, and redeem their shares at any time. However, if a large amount of ETH held by the fund is locked and pledged, and there is a sudden large-scale redemption request, the fund may not be able to liquidate the assets in a short period of time, resulting in liquidity mismatch risk.

To alleviate this problem, ETFs usually reserve some unstaked ETH as a liquidity buffer pool, but this will sacrifice staking income and weaken the on-chain income appeal that the product should have. A more practical solution is to use the Liquid Staking Derivatives (LSD) protocol.

Its core mechanism is to generate tradable staking certificate tokens (such as Lidos stETH and Rocket Pools rETH) from the pledged ETH. These tokens represent ownership of the pledged ETH and can be traded in the secondary market, so that the pledged assets maintain on-chain liquidity. If the Ethereum ETF uses the LSD protocol, it can not only obtain sustainable staking income, but also meet redemption needs at any time through derivative assets such as stETH, solving the liquidity pain points of traditional staking. This makes the LSD protocol a key liquidity intermediary between the ETF and the Ethereum network.

The market has responded quickly to this logic. After the news that BlackRock submitted the ETHA staking application was announced, Lidos governance token LDO rose by more than 20% within 24 hours, indicating that funds are rapidly pouring into the LSD sector that may benefit. Once the SEC officially approves the Ethereum ETF that supports staking, the TVL of protocols such as Lido and Rocket Pool is expected to expand significantly, and their native tokens will also usher in a new round of valuation revaluation.

Centralized trading platform The Ethereum ETF issuer chooses not to build its own nodes or rely on decentralized protocols. The most realistic and convenient solution is to use centralized staking service providers, such as Coinbase, OKX, etc. These platforms have built mature node infrastructure and can provide institutional clients with one-stop staking solutions, including node operation, reward distribution, key management, etc., which greatly reduces the technical threshold.

Take Coinbase as an example. Its liquid pledge token cbETH (Coinbase Wrapped Staked ETH) provides users with a way to enjoy both pledge income and on-chain liquidity. cbETH represents the ETH pledged by users on Coinbase. Users can transfer, trade or use it for on-chain interactions without unstaking. Its principle is similar to Lidos stETH, but it is issued and managed by a regulated centralized platform, so it is more easily accepted by regulators and more in line with the compliance needs of traditional financial institutions.

Other trading platforms such as Kraken and OKX also provide similar staking services, which can provide customized solutions for institutional users. It is worth mentioning that although centralized staking services have obvious advantages in convenience and compliance, they also face certain risks. For example, the SEC has initiated enforcement actions against the staking services of centralized trading platforms, alleging that they constitute unregistered securities issuance.

In general, under the current background of stricter compliance requirements, centralized trading platforms, with their technological maturity and license resources, are still one of the important options for ETF issuers to realize the on-chain staking function. In particular, products like cbETH may become representative assets with both liquidity and returns in the compliant version of LSD track in the future.

संक्षेप The strong expectation of the approval of Ethereum ETF pledge not only means that traditional finance has officially entered the on-chain income era, but also marks the complete transformation of ETH from a speculative product to an income-generating asset. With institutions such as BlackRock taking the lead in entering this track, the LSD protocol, node operators and centralized trading platforms are standing in the spotlight, ushering in a new round of valuation reassessment window.

As regulation becomes clearer and infrastructure becomes more complete, this multi-party collaboration around ETH staking income may become the key point for the integration of Web3 and Wall Street. Whoever can win ETF cooperation resources first will occupy a more core position in the next crypto cycle.

This article is sourced from the internet: BlackRock enters the ETH collateralized ETF, which tracks and projects will benefit first?

Related: Bloomberg Chief Financial Writer: The premium of US stocks involving cryptocurrencies is staggering? What can retail inv The original article Put the Crypto in the Index Funds was translated by Odaily Planet Daily jk. Original author: Matt Levine is a Bloomberg Opinion columnist responsible for financial coverage, and his reading volume ranks first on Bloomberg Financial Opinion for many years. He was the editor of Dealbreaker, worked in the investment banking department of Goldman Sachs, was an MA lawyer at Wachtell, Lipton, Rosen Katz, and served as an associate judge on the U.S. Court of Appeals for the Third Circuit. What strategy did Vanguard adopt? A basic situation today is that the U.S. stock market will use $2 of stock valuation to buy $1 of cryptocurrency. If a small public company holds $100 million worth of crypto assets such as Bitcoin, Ethereum, and Trump Coin, its market…

# विश्लेषण# क्रिप्टो# इथेरियम# एक्सचेंज# मार्केट# टोकन# टूल# वेब3© 版权声明सरणी 上一篇 24H Hot Currencies and News | The White House Crypto Policy Report is expected to be released at the end of this month; 下一篇 Buy hotel stocks or stay in hotel rooms? Coinsiding combines the two interests into one 相关文章 Tiger Research: Driven by a Liquidity Vacuum Leading to Sharp Sell-offs, Why Has Bitcoin Failed to Rebound? 6086cf14eb90bc67ca4fc62b 7,627 1 A Crack in the Ideals: When Ethereum’s Soul Developers Leave 6086cf14eb90bc67ca4fc62b 17,909 1 Where is Pump.fun’s next new narrative? 6086cf14eb90bc67ca4fc62b 14,300 1 The US SEC and CFTC have teamed up for the first time, ushering in a new trend in US crypto regulation. 6086cf14eb90bc67ca4fc62b 19,895 1 Ethereum RWA explosion: regulatory changes and new growth engines 6086cf14eb90bc67ca4fc62b 29,571 2 DeepSeeks popularity: How AI makes DeFi mainstream 6086cf14eb90bc67ca4fc62b 37,825 2 कोई टिप्पणी नहीं टिप्पणी करने के लिए आपको लॉगिन होना होगा! तुरंत लॉगइन करें कोई टिप्पणी नहीं... नवीनतम लेख Did Jane Street “Manipulate” BTC? Decoding the AP System, Understanding the Power Struggle Behind ETF Creation and Redemption Pricing 8 घंटे पहले 327 Stop Comparing Bitcoin to Gold—It’s Now a High-Volatility Software Stock 8 घंटे पहले 451 Matrixport Research: $25 Billion Gamma Unwinding Imminent, Liquidity Yet to Return Behind the Rebound 8 घंटे पहले 429 ERC-5564: Ethereum’s Stealth Era Has Arrived, Receiving Addresses No Longer ‘Exposed’ 8 घंटे पहले 352 Hong Kong Regulatory Green Light: Asseto Enables DL Holdings to Achieve Compliance for Two RWA Business Implementations 8 घंटे पहले 394 लोकप्रिय वेबसाइटेंTempoLighterजीएआईबीग्लाइडरप्लांकरेल्सबीसीपोकरवूई Bee.com दुनिया का सबसे बड़ा Web3 पोर्टल भागीदारों कॉइनकार्प बिनेंस कॉइनमार्केटकैप कॉइनगेको कॉइनलाइव कवच बी नेटवर्क ऐप डाउनलोड करें और वेब3 यात्रा शुरू करें सफेद कागज भूमिकाएँ सामान्य प्रश्न © 2021-2026. सर्वाधिकार सुरक्षित।. गोपनीयता नीति | सेवाओं की शर्तें बी नेटवर्क ऐप डाउनलोड करें और वेब3 यात्रा शुरू करें दुनिया का सबसे बड़ा Web3 पोर्टल भागीदारों CoinCarp Binance CoinMarketCap CoinGecko Coinlive Armors सफेद कागज भूमिकाएँ सामान्य प्रश्न © 2021-2026. सर्वाधिकार सुरक्षित।. गोपनीयता नीति | सेवाओं की शर्तें खोज खोजइनसाइटऑनचेनसामाजिकसमाचार उत्तर: एयरड्रॉप शिकारी डेटा विश्लेषण क्रिप्टो हस्तियाँ ट्रैप डिटेक्टर हिन्दी English 繁體中文 简体中文 日本語 Tiếng Việt العربية 한국어 Bahasa Indonesia اردو Русский हिन्दी

智能索引记录