贝莱德以太坊质押ETF对质押收益收取 18% 佣金

链捕手
Apr 08

ChainCatcher 消息,贝莱德旗下 iShares Staked Ethereum Trust(代码 ETHB)于今日上线,管理费为 0.25%(临时优惠期为 0.12%),同时对信托内约 3.18 亿美元质押 ETH 的总质押收益收取 18% 的佣金,该佣金由 BlackRock 与 Coinbase 分成。

按当前 ETH 约 2.74% 的质押收益率计算,18% 的佣金约相当于 49 个基点的总回报。Falconedge CEO Roy Kashi 认为,这 18% 涵盖了托管、罚没风险、验证者费用及品牌溢价等成本,并估算质押 ETF 的运营成本底线约为 5%。GlobalStake 创始人 Richard Shorten 则指出,在收益到达 ETF 之前还存在大量隐性费用。

Cosmos 联合创始人 Ethan Buchman 表示,18% 对机构产品而言并不离谱,但预计未来将压缩至 15% 甚至 10%。Twinstake 销售副总裁 Harriet Browning 则提醒,过度的费率竞争可能导致部分提供商在安全和透明度方面降低标准。目前该佣金仍低于散户在主流加密平台直接质押 ETH 所支付的最高 25% 的费率。财务顾问 Tyrone Ross 则质疑,是否值得将 18% 的质押收益让渡给 BlackRock 和 Coinbase。

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