BlackRock files for Ethereum staking ETF - How is it different from Grayscale's ETP Staking?

If you remember, Grayscale has had the $ETH ETP Staking product since early October 2025, and when that news came out, it was also right at the ETH chart peak (chart image)

- In fact, Grayscale's ETP ETH Staking product is quite unattractive to users, as there is a management fee from Grayscale of about 2.5%. Moreover, there are also staking/validator fees (hidden in the structure): about 0.2-0.4%

=> This means the cost for users of this ETP Staking is around 2.7-3% per year, while the Gross staking yield of Ethereum is around 3.0 – 4.0% per year (even below 3% as it currently is at 2.72%)

=> This means the staking profit is very low with ETHE at approximately 0.3 – 1.0% per year, and there were periods where it was almost = 0

*How is BlackRock's Ethereum staking ETF different?

- BlackRock has submitted Form S-1 for the iShares Staked Ethereum Trust ETF to the SEC on 05/12/2025

- The review time for Form S-1 is about 30-45 days, after which the 19b-4 filing will be completed for listing in about a maximum of 240 days (8 months), with staking ETFs potentially facing stricter regulations, making it harder to list as quickly as current Altcoin ETFs (like $XRP , $SOL ,...)

=> So the fastest that the ETH Staking ETF could be listed is around the end of Q2/2026 and the latest by the end of 2026

- The expectation is that BlackRock's Staking ETF will be a more accessible product than Grayscale, with a management fee of only about 0.5%, making investor profits higher => much more attractive

- Therefore, this information is currently a positive news, but in the short term, it won't generate any immediate cash flow for ETH; we hope for a longer-term future

- What are your thoughts?