BlackRock Files to Add Staking to Ethereum ETF

BlackRock submitted a filing via Nasdaq to the SEC on Thursday, proposing to add Ethereum staking capabilities to its iShares Ethereum Trust (ETHA). The submission follows last week's approval of the REX-Osprey Solana Staking ETF, the first staking crypto product sanctioned by the agency.

The filing, made under SEC Rule 19b-4, allows ETHA to stake either “all or a portion” of its Ethereum holdings using selected staking providers. Coinbase, already custodian for BlackRock's Ethereum ETF, is expected to serve as the principal staking partner.

This proposal arrives amid surging investor demand for Ethereum ETFs, highlighted by a single-day net inflow record of $726.74 million on Wednesday, led by $499 million into BlackRock’s ETHA fund (more on this in the Data of the Day portion below).

Bloomberg ETF Analyst James Seyffart anticipates the SEC will likely grant staking approval by the end of 2025. ETHA currently manages over $7.9 billion in assets, maintaining its position as the largest Ethereum ETF by assets under management.

Base Launches Flashblocks Cutting Block Times to 200ms

Coinbase’s Layer 2 network Base activated Flashblocks on July 17, reducing block times from two seconds to just 200 milliseconds. The upgrade, built with Flashbots, delivers streamed sub-blocks every 0.2 seconds, allowing near-instant confirmation. Flashblocks was tested in February on the Sepolia testnet and now debuts on Base mainnet with support for high-frequency apps.

The performance boost positions Base to compete with rivals like Arbitrum and Blast, which still finalize blocks at roughly two-second intervals. Coinbase said the new system benefits trading, gaming, and social dApps inside the freshly launched Base App. On-chain data shows Base currently leads all Ethereum Layer 2s by daily active users.

WLFI Token Unlock Approved in Governance Vote

On July 16, World Liberty Financial token holders voted to unlock WLFI tokens, making them transferable for the first time. The proposal, submitted July 9, passed with 99.94% approval and marks the start of WLFI's tradable market phase. WLFI was previously sold in limited batches but restricted from open trading until community approval.

Only early investor tokens will unlock initially, while future supply unlocks will require a second vote, according to the governance roadmap. The World Liberty project, tied to Trump family advisors and associates, reported a 22.5 billion token allocation to a Trump-linked company. Financial disclosures show WLFI accounts for a large portion of the Trump family’s estimated $620 million crypto wealth.

Raydium Buybacks Hit $190M Cutting RAY Supply by 25%

Solana's DEX Raydium announced that it has spent over $190 million buying back 69.1 million RAY tokens from the market. The platform began systematic repurchases in 2024, using revenue to return value to holders while offsetting token emissions. The repurchased tokens represent about 25% of the circulating supply, shrinking RAY’s float-adjusted market cap.

Raydium reported $9.1 million in May revenue, with more than half routed to buybacks, a pace that implies $57 million in annual returns. Treasury assets of $60 million in SOL and USDC give the protocol additional operating cushion. Contributors say the approach differs from one-time burns by emphasizing sustainable, revenue-backed supply reductions.

Data of the Day

Spot Ethereum ETFs recorded $726 million in net inflows on July 17, the largest single-day total since they began trading. The inflow spike brought total ETF-held ETH to 4.95 million and drove ETH's price above $3,400. The surge reflects rising institutional demand and ETF-led accumulation, especially from BlackRock and Grayscale.

So far in July, Ethereum ETFs have pulled in over $2.2 billion, making it the highest monthly intake since their launch in 2024. BlackRock’s ETHA led the pack with $499 million in one-day inflows, according to SoSoValue. Analysts say institutional buyers may absorb 10% of ETH’s supply within a year if current pace holds.

More Breaking News

• Partisan gridlock defined Day 4 of Crypto Week as lawmakers clashed over stablecoins, executive conflicts, and the Trump family’s crypto exposure.
• Coinbase launched its “everything app” Base, merging wallet, social, and AI tools into a single platform designed to power the onchain economy.
• A dormant Bitcoin whale transferred another 40,000 BTC worth $4.75 billion, fueling speculation of a broader selloff following earlier Galaxy Digital moves.
• Australia’s AUSTRAC named crypto as the nation’s top financial crime threat, announcing sweeping AML reforms impacting 80,000 new businesses by 2026.
• GameSquare closed a $70 million offering to expand its Ethereum treasury, targeting recurring yields through a partnership with crypto firm Dialectic.
• Canary Capital filed with the SEC to launch a staked Injective ETF, seeking to track INJ while earning staking rewards in U.S. markets.
• A former UK crime agency officer was sentenced to five years after stealing 50 BTC in 2017, now valued at nearly $6 million.

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