- BlackRock files a new Staked Ethereum Trust, targeting regulated ETH yield inside an ETF.
- SEC’s shifting stance on staking enables issuers like Fidelity and 21Shares to pursue similar ETFs.
- Staking cuts circulating ETH as institutional demand for yield grows despite large ETF outflows.
BlackRock has taken a new step toward regulated yield-based Ethereum exposure as it prepares the iShares Staked Ethereum Trust ETF. The product aims to offer staked ETH access to traditional investors, and the move signals tradfi’s first shift toward regulated staking rewards inside an ETF structure.
New Trust Registration and Staking Framework
BlackRock registered the iShares Staked Ethereum Trust in Delaware. This step was confirmed after Bloomberg analyst Eric Balchunas noted the statutory filing. He said a formal submission under the Securities Act of 1933 should follow soon. The firm used similar structures before launching its spot Bitcoin and Ethereum ETFs.
The move follows the SEC’s recent acknowledgment of Nasdaq’s request to allow staking within BlackRock’s existing Ethereum ETF. The regulator delayed progress in September, yet the approval process resumed after new listing standards removed the need for a 19b-4 filing for qualifying crypto ETPs.
Robert Mitchnick, BlackRock’s Head of Digital Assets, described the shift as “the next phase” for Ethereum ETF products. The approval would allow the firm to stake ETH held in the fund and distribute rewards to investors under regulated conditions.
Growing Staking ETF Activity and Market Positioning
More issuers are now pursuing staking-based exposure. Filings from 21Shares, Fidelity, and Franklin Templeton show broader interest in regulated staking integration. The U.S. market also saw a dedicated staking ETF from REX Shares under the ticker ESK, which provides spot ETH exposure with on-chain rewards.
Grayscale announced staking support for ETHE and ETH, and it staked 32,000 ETH on its launch day. BlackRock’s ETHA remains the largest Ethereum ETF with more than $11.5 billion in assets, though recent market declines produced steady outflows. The product recorded almost $200 million in outflows yesterday. Staking reduces circulating ETH because users lock tokens to support network validation.
This creates interest among funds seeking yield while maintaining regulated oversight. The filing places BlackRock in position to offer a product that merges staking rewards with the liquidity and structure of an ETF. Regulators will now review the new trust. Approval could create new liquidity flows as institutions access staking yield and ETF momentum together, signaling a structural shift in Ethereum’s market development.
