BlackRock's newly launched staked Ethereum ETF, ETHB, has attracted approximately $46 million in inflows within just two days. The ETF, which stakes 70%–95% of its spot ETH holdings through Coinbase, was designed to avoid the penalty-related depreciation risk associated with staking. This strategic decision differentiates it from BlackRock's existing Ethereum ETF, ETHA, which does not include staking functionality. Investors in ETHB receive about 82% of the staking yield in cash monthly, with no compounding within the fund, a feature aimed at appealing to large investors focused on income generation. The remaining 18% of the yield is retained by BlackRock and Coinbase, highlighting the fund's unique structure and its potential attractiveness to institutional investors.