Asset management behemoth BlackRock has applied to add staking to its highly successful Ethereum ETF.
The move will allow shareholders to generate passive income instead of simply getting exposure to the popular altcoin. Hence, it will make the product more competitive.
The price of Ethereum (ETH) has reacted positively to such a move, currently approaching the $3,400 level.
After switching to the proof-of-stake (PoS) consensus algorithm, ETH owners can earn rewards by locking up their tokens and securing the network.
Previously, Ethereum ETFs launched without staking due to some regulatory concerns.
However, the new SEC administration is open to adding staking to such products.
