BlackRock Files for New Ethereum Staking ETF Following SEC Filing
BlackRock filed an S-1 registration statement with the SEC on Friday for ETHB, a new staked Ethereum ETF/trust that is separate from its existing ETHA product. ETHB is designed to track the price of Ethereum (ETH) and include staking rewards from the held ETH. This filing follows the November formation of a Delaware statutory trust, a step commonly taken before crypto or commodity ETF filings.
Previously, BlackRock sought to add a staking component to ETHA. Although the SEC acknowledged these requests as early as July, it delayed a formal decision, with a decision timeline expected by early September. It remains unclear how the new ETHB filing will affect plans related to incorporating staking into ETHA, as BlackRock did not comment on ETHB at the time of filing.
The launch of Ethereum staking ETFs has come after the establishment of generic listing standards for commodity trusts. Grayscale’s ETHE was the first to market in early October, followed shortly by the REX-Osprey ETH + Staking ETF. ETHA currently manages over $11 billion in assets, equivalent to about 3.6 million ETH, while Grayscale’s ETHE and ETH Mini Trust combined hold under $5 billion, around 1.8 million ETH.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) remains the largest crypto ETF with approximately $70 billion in assets under management. Following the filings, IBIT rose about 1% as the price of Bitcoin fell roughly 1% to around $90,390. Should the ETHB ETF receive approval, it would trade on Nasdaq alongside other BlackRock ETFs.
