BlackRock has filed to launch a staked Ethereum exchange-traded fund, marking a major step in bringing on-chain yield exposure to mainstream investors. The proposed fund, iShares Ethereum Staking Trust (ETHB), was submitted to the SEC through an S-1 registration statement on Friday. A formal review timeline will begin once the fund’s listing exchange submits a separate 19b-4 filing.
The filing follows BlackRock’s initial move 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 the previous SEC leadership under Chair Gary Gensler reportedly required staking components to be removed from filings over potential securities concerns.
With new SEC Chair Paul Atkins at the helm, regulatory attitudes appear to be shifting. BlackRock, along with other issuers like VanEck, is revisiting ETF filings to include staking. Unlike some competitors modifying existing products, BlackRock is launching an entirely new fund.
ETHA, which currently holds around $11 billion in Ethereum, will remain separate. If approved, the iShares Ethereum Staking Trust would allow investors to earn yield from Ethereum staking without having to stake the tokens themselves.
