Galaxy Digital Partners with BlackRock on Staked Ethereum ETF

Galaxy Digital has been selected by BlackRock's iShares Staked Ethereum Trust ETF as one of its approved validators. The firm will help manage a majority of the fund's Ether holdings through institutional validation.

The ETF, launched last month, is designed to generate staking rewards for investors. With over $435 million in assets under management as of April 8, it aims to follow the success of BlackRock's Bitcoin ETF.

Galaxy Digital's Global Co-Head of Digital Assets, Steve Kurz, stated that being chosen by a firm like BlackRock is a testament to their systems, scale, and accountability. The company has earned trust over years of building digital infrastructure, managing $5 billion in staked assets across Ethereum, Solana, and other proof-of-stake networks.

The partnership highlights the growing demand for institutional validation services in the crypto market. With Galaxy Digital's expertise, BlackRock aims to deliver a seamless experience for its clients, adhering to strict standards.