BlackRock Names Galaxy Validator for iShares Staked Ethereum Trust ETF
BlackRock selected Galaxy to serve as an approved validator for staking (locking crypto to earn rewards) in its new iShares Staked Ethereum Trust ETF, identified as ETHB.
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Summary
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Terms & Concepts
Staking: A process of locking cryptocurrency to help secure a blockchain network and earn rewards.
Validator: A network participant that confirms transactions and helps maintain blockchain operations on proof-of-stake systems.
Ethereum Trust ETF: An exchange-traded fund designed to provide exposure to Ethereum, in this case with staking-related functionality.