ETFs

About 93% of the $1.09 billion net exit from US spot Ether ETFs between October 5 and October 22 came from BlackRock’s ETHA. That concentration changes the meaning of the headline: investors withdrew heavily from one fund, while the rest of the market did not move uniformly in the same direction. Nor does BlackRock’s staked Ether product provide evidence of a neat switch into yield. ETHB’s disclosed asset base shrank too. ...

Fidelity is adding Ether ETF staking to its flagship Ethereum fund, unlocking a steady stream of yield for US shareholders. The Fidelity Ethereum Fund (ticker: FETH), which holds close to $900 million in assets, will begin staking a portion of its Ether and passing the rewards to investors as quarterly distributions. It is one of the first major yield-bearing crypto ETFs in the US market, and it turns a passive Ethereum position into an income-producing asset inside a standard brokerage account. ...