BlackRock has signaled its intention to enter the staked ether ETF arena, registering the iShares Staked Ethereum Trust in Delaware on Nov. 19. The filing — first noted by Bloomberg’s Eric Balchunas — marks the initial groundwork for what could become a yield-bearing ETH exchange-traded product.
Although the trust registration does not yet represent a formal Securities Act of 1933 ETF application, it indicates the firm is preparing for an eventual submission once the U.S. Securities and Exchange Commission clarifies how staking can be treated within regulated funds.
The move places BlackRock alongside VanEck, which recently registered a similar structure tied to Lido’s staked ETH. Both issuers appear to be positioning early for the next phase of competition should regulators open the door to staking-based ETF products.
Staking was excluded from the first group of spot ether ETFs launched in 2024 after the SEC instructed issuers to remove yield features, citing concerns that certain staking services might be deemed unregistered securities offerings. With the regulatory stance still evolving, BlackRock’s early registration underscores expectations that staking could eventually gain approval for inclusion in U.S.-listed crypto ETFs.
