BlackRock has filed to launch a staked Ethereum exchange-traded fund, taking a major step toward offering mainstream investors exposure to on-chain yield. The proposed fund, iShares Ethereum Staking Trust (ETHB), was submitted to the SEC via an S-1 registration statement on Friday. The review process will formally begin once the fund’s listing exchange submits a separate 19b-4 filing.
The move follows BlackRock’s initial signal in November, when the firm registered the ETHB name in Delaware. This is not BlackRock’s first Ethereum product—its iShares Ethereum Trust (ETHA) launched in July 2024—but at that time, the SEC under former Chair Gary Gensler reportedly required issuers to remove staking components over potential securities concerns.
Under new SEC Chair Paul Atkins, regulatory attitudes toward tokenized staking appear to be shifting. BlackRock, along with other issuers like VanEck, is revisiting filings to include staking exposure. Unlike some competitors who are modifying existing products, BlackRock is launching an entirely new fund.
ETHA, which currently holds roughly $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.
