BlackRock Files for Staked Ethereum ETF to Bring Yield to Investors
In December 2025, BlackRock filed an S-1 with the U.S. Securities and Exchange Commission (SEC) for a new staked Ethereum ETF called the iShares Ethereum Staking Trust (ETHB). This marks the start of the standard SEC review process, while a separate 19b-4 form from the listing exchange will be required to trigger a formal SEC decision deadline.
The proposed ETHB fund aims to offer investors exposure to Ethereum's staking yield without requiring them to stake their assets directly. This new staking-focused fund would operate separately from BlackRock’s existing Ethereum fund, the iShares Ethereum Trust (ETHA), which currently holds about $11 billion in ETH and will remain intact.
This filing reflects a shift in SEC policy under the new Chair, Paul Atkins, who has signaled more openness toward staking components in ETF products. This contrasts with the previous stance under Chair Gary Gensler, during which the SEC had urged firms to remove staking from their ETF filings.
BlackRock had previously hinted at its staking strategy in November 2025 and had launched ETHA in July 2024. The firm is among several issuers, including VanEck, that are resubmitting or amending their ETF filings to include staking components. Notably, BlackRock is pursuing the launch of this separate staking fund rather than modifying the existing ETHA.
If approved, the iShares Ethereum Staking Trust would widen investor access to on-chain yield opportunities in a regulated fund structure, eliminating the need for direct participation in Ethereum’s staking programs.
