BlackRock has filed to launch a staked Ethereum exchange-traded fund, marking a significant step in bringing on-chain yield exposure to mainstream investors. The proposed fund, iShares Ethereum Staking Trust (ETHB), was submitted to the SEC via an S-1 registration statement on Friday. A formal approval timeline will begin once the fund’s listing exchange files a separate 19b-4 form.
The move follows BlackRock’s initial signal in November when the firm registered the ETHB name in Delaware. This is not the company’s first Ethereum product—BlackRock launched the iShares Ethereum Trust (ETHA) in July 2024—but at that time, the SEC under Chair Gary Gensler reportedly instructed firms to remove staking components, citing potential securities concerns.
Under new SEC Chair Paul Atkins, the regulatory stance appears to be softening. BlackRock, along with other issuers like VanEck, is now revisiting filings to include staking exposure. Unlike some competitors modifying existing products, BlackRock is creating a completely new fund.
ETHA, which holds about $11 billion in Ethereum, will remain separate. If approved, the iShares Ethereum Staking Trust would allow investors to earn yield from Ethereum staking without personally staking assets.
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