BlackRock Files for First Staked Ethereum ETF After SEC Stance Shift

BlackRock officially filed for a staked Ethereum ETF, seeking SEC approval. The move provides investors with ETH exposure and passive income potential.

Asset management giant BlackRock has officially filed for a staked Ethereum ETF. This marks its first formal move toward SEC approval for a yield-bearing crypto product. BlackRock’s existing non-staking Ethereum fund currently holds about $17 billion in ETH.

New Product Targets Yield-Focused Institutional Demand

The new ETF would provide individual staking exposure to investors. It seeks to deliver investors direct staking rewards, or yield. This is in addition to the price movement of the standard Ethereum. This follows on from their successful launch of the non-staking iShares Ethereum Trust (ETHA) in 2024.

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This move represents a large move towards bringing income-generating crypto products into the mainstream. Furthermore, it puts BlackRock in a position to effectively compete. It gets into the growing yield-focused indirect ETF space head-to-head with other issuers.

The name of the product is specified as the iShares Ethereum Staking Trust (ETHB). Its central goal is to provide both Ethereum price exposure as well as a steady yield from staking. The importance of this is that it is able to grasp yield-focused institutional demand. This obviously distinguishes the offering from standard spot ETFs.

The S-1 registration statement filing with the SEC starts the official review. A listing exchange still has to file a 19b-4 form for formal approval. This will finish off the first part of the regulatory steps.

This comes on the heels of BlackRock’s successful launch of its regular iShares Ethereum Trust (ETHA). It now joins other firms that are already offering staked products of ETH.

The move comes after a reported change in the stance of the U.S. Securities and Exchange Commission (SEC). This has to do with staking activities under the new Chair, Paul Atkins. The SEC used to tell firms to strip out staking parts. This was the case from the initial spot Ethereum ETF filings in mid-2024.

Regulatory Clarity Heats Up Staked ETF Race

However, a statement in May 2025 explained the position. It said some “protocol staking activities” would not necessarily amount to unregistered securities offerings. This crucial clarification led to the current product rush.

BlackRock is joining the other major asset managers in this competitive landscape. These include Fidelity, VanEck. They have also sought approval to incorporate some staking features in their respective Ethereum products.

The competition for yield-bearing crypto ETFs is rapidly heating up. Issuers have a strong expectation that investors will demand products. They provide both price exposure as well as passive income streams.

                                                                 Source: SEC

The S-1 filing begins a new countdown for the review process being carried out by the SEC. Other similar staking proposals are currently facing extended decision deadlines. This suggests the level of complexity in the regulatory analysis.

The price of Ethereum (ETH) has been volatile in the past month. Currently, it trades around $3,100. This makes the asset have a huge market capitalization of above $370 billion.

The typical annual return rates for ETH staking are roughly 3.95%. This is the potential that fuels the institutional interest in these new products. Ultimately, this initiative shifts staking from a niche practice to an investment feature for the mainstream.

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