BlackRock already has an Ethereum (ETH) spot ETF called iShares Ethereum Trust (ETHA) with over $6 billion in assets under management. The asset manager also manages the iShares Bitcoin Trust (IBIT), with net assets of over $55 billion, making it the largest Bitcoin (BTC) spot ETF in the market.

While ETHA tracks the spot price of Ethereum, ETHB will give an annualized return on staking income from Ethereum. ETH’s price edged 0.3% lower on Thursday morning, but remained above the $2,000 mark. On Stocktwits, retail sentiment around the leading altcoin remained in ‘bearish’ territory over the past day.

Blackrock Faces Cracks In Private Credit

The launch comes after BlackRock faced criticism for capping redemptions from its HPS private credit fund, HLEND. The firm fielded $1.2B in first-quarter (Q1) redemptions, which represented 9.3% of the fund’s net asset value – double the 4.1% it saw in the previous quarter. Despite the uptick, the firm capped payouts at $620 million, which amounted to around 5% of the fund’s net asset value.

It joined Blue Owl Capital and Blackstone in the line-up of private credit dominoes that have been falling over the past month. Economists like Mohamed El-Erian have questioned whether this could be the first sign of a financial collapse in the making.

BlackRock’s shares were down nearly 1.5% in morning trade on Thursday. Retail sentiment around the firm on Stocktwits trended in ‘bullish’ territory over the past day, amid ‘high’ levels of chatter.

source: https://www.tradingview.com/news/stocktwits:351ac3775094b:0/