BlackRock Advances Toward Staked Ethereum ETF With New Delaware Trust Filing

BlackRock has taken a significant step toward launching a staked Ethereum exchange-traded fund (ETF) by registering the iShares Staked Ethereum Trust in the state of Delaware on November 19.

BlackRock Initiates Staked Ether ETF

The Delaware trust filing, first flagged by Bloomberg analyst Eric Balchunas, marks the asset manager’s latest move to expand its crypto ETF lineup amid accelerating competition in the sector.

The registration constitutes an early procedural requirement for establishing an ETF, but does not represent a formal application under the Securities Act of 1933. Additional filings are still needed before the firm can seek approval from the U.S. Securities and Exchange Commission (SEC).

Balchunas noted the legal framework under which the product is being prepared, stating on X that 

Regulatory Context and Evolving Market Conditions

The filing comes as regulatory dynamics surrounding crypto ETFs continue to shift. Historically, the SEC has been hesitant to approve products incorporating staking, citing concerns that certain staking activities may resemble unregistered securities offerings. This stance led all issuers to remove staking from the first wave of U.S. spot Ethereum ETFs in 2024.

The landscape began to change in 2025. In September, the SEC approved generic listing standards for crypto ETFs, eliminating the need for case-by-case reviews and paving the way for quicker product rollouts for compliant issuers. Despite the more accommodating regulatory environment, the agency has not yet formally endorsed staking within U.S.-listed ETFs, leaving issuers waiting for clarity.

Previous Attempts at Staking Integration

BlackRock itself attempted to integrate staking into its iShares Ethereum Trust (ETHA) earlier in the year. Nasdaq, which lists ETHA, submitted an amended 19b-4 filing in July 2025 to request permission for staking functionality. 

On its website at the time, BlackRock maintained:

Positioning Within a Competitive ETF Landscape

The new registration signals BlackRock’s intent to expand beyond its current crypto ETF offerings, which are focused solely on Bitcoin and Ethereum. Its existing spot Ethereum ETF, ETHA, has accumulated $13.1 billion in inflows since launching in July 2024—despite lacking staking features. A staked ether product would broaden the firm’s lineup and help meet institutional demand for yield-bearing digital asset strategies.

The company’s move also follows competitor activity in the staking ETF space. VanEck recently registered a trust offering exposure to Lido’s staked ETH, while other issuers have begun launching products with yield components.

While BlackRock’s Delaware filing remains an initial procedural step, it underscores the firm’s readiness to compete in a maturing market where staking-enabled products are emerging as a key differentiator. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.