Benzinga·2026-02-17 19:46Core Insights - BlackRock has amended its S-1 filing for the iShares Staked Ethereum Trust ETF, indicating an 18% cut of staking rewards shared between the sponsor and the prime execution agent [1] Staking Fee Structure - The trust will allocate 18% of gross staking rewards as a "Staking Fee," with the remaining rewards retained by the trust [2] - This 18% fee includes contributions from both BlackRock and the prime execution agent, which can further distribute portions to staking service providers [2] Role of Coinbase - Coinbase acts as both the custodian and prime execution agent, playing a crucial role in the staking infrastructure [3] - BlackRock will charge a 0.25% annual sponsor fee based on net asset value, which will be temporarily reduced to 0.12% for the first $2.5 billion in assets for the first year after listing [3] Shareholder Returns - Shareholders will receive approximately 82% of staking rewards after the 18% cut, in addition to the annual sponsor fee of 0.12%-0.25% [4] - If Ethereum staking yields around 3% annually and the ETF holds $2.5 billion, gross staking rewards would total $75 million, leading to a net of $61.5 million for shareholders after the cut [4][5] ETF Listing Details - The ETF is set to list on Nasdaq under the ticker ETHB, pending SEC approval of the registration statement [5] Technical Analysis of BLK - BLK is currently trading near the 200 EMA, a significant technical level, with all EMAs tightly compressed between $1,061 and $1,090 [6] - A wedge pattern is forming, with critical support at $1,060-$1,066; breaking below this level could target $1,000-$1,020, while breaking above $1,090 could lead to a path towards $1,120-$1,150 [7]