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- BlackRock has filed to register an iShares Staked Ethereum Trust ETF in Delaware, even as its ETF offerings remain restricted to BTC and ETH.
- The filing follows the debut of U.S.-listed Ethereum staking ETFs, such as the REX Osprey ETH + Staking ETF.
BlackRock, the world’s largest asset manager, overseeing $13.5 trillion, has taken an early step toward expanding its crypto product lineup by filing a Texas-style Delaware statutory trust registration for a new vehicle.
State records from the Delaware Division of Corporations show the entity was formally created under the name “iShares Staked Ethereum Trust ETF.”
Notably, the trust was established under the Securities Act of 1933, meaning it will eventually require extensive disclosures before it can be offered to investors. For now, no product details or offering documents have been filed, though the basic public record of the entity is accessible through Delaware’s corporate registry.
The filing was submitted by Daniel Schweiger, a Wilmington-based BlackRock managing director who also handled the company’s earlier iShares Ethereum registrations in 2023, indicating continuity in the process.
While the next step would normally be submitting a registration statement to the SEC, BlackRock has not provided any timeline, and the current filing does not suggest that an SEC submission is imminent.
The term “Staked Ethereum” implies that the trust would permit or utilise staking of ETH. Ethereum’s proof-of-stake system produces staking rewards that function much like interest, allowing a staked ETH product to deliver passive yield in addition to standard price exposure.
This added return potential can make it more attractive than a traditional spot ETH ETF and helps distinguish it in an increasingly competitive market. For asset managers, the ability to offer yield is a powerful draw for investors, often translating into stronger demand, greater inflows, and ultimately higher fees.
Performance of its ETFs and Competition
By registering this trust, BlackRock is showing its intent to deepen its presence in digital-asset investment products, particularly those that go beyond mere price-tracking and incorporate “yield” via staking.
The company’s crypto ETF offerings have remained confined to Bitcoin and Ethereum. Its iShares Ethereum Trust (ETHA) has attracted a total of $13.09 billion in net inflows and now holds $11.47 billion in assets, reaching the $1 billion AUM milestone within just two months of launch.
BlackRock has also pursued the addition of staking capabilities to ETHA, with Nasdaq, ETHA’s listing exchange, submitting an amended 19b-4 request to the SEC in July to enable that feature. Meanwhile, BlackRock’s Bitcoin ETF, IBIT, has delivered even stronger results, pulling in $63.12 billion in cumulative inflows and growing to $72.76 billion in assets.
BlackRock also faces growing competition in the staking-enabled ETF space. In October, Grayscale secured approval to introduce staking for its U.S. Ethereum Trust ETF (ETHE) and Ethereum Mini Trust ETF (ETH). This makes them the first spot-based products registered under the Securities Act of 1933 to offer such features.
Earlier, in July, REX-Osprey launched a staking Solana ETF structured under the less commonly used Investment Company Act of 1940, and later, on September 25, the firm launched ESK, providing investors with exposure to Ethereum along with staking rewards.