BlackRock has filed to launch a staked Ethereum exchange-traded fund, marking a key move to bring 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 review timeline will begin once the fund’s listing exchange files a separate 19b-4 form.
The filing follows BlackRock’s initial step in November, when it registered the ETHB name in Delaware. This is not the firm’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 required staking components to be removed due to potential securities concerns.
With new SEC Chair Paul Atkins, regulatory attitudes toward tokenized staking appear to be easing. BlackRock, along with other issuers such as VanEck, is revisiting ETF filings to include staking exposure. Instead of modifying an existing product, BlackRock is creating a brand-new fund.
ETHA, which currently holds roughly $11 billion in Ethereum, will remain separate. If approved, the iShares Ethereum Staking Trust would let investors earn yield from Ethereum staking without having to stake the tokens themselves.
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