iShares has applied to list a stakeable Ethereum spot ETF, ETHB, and plans to trade it on Nasdaq.

PANews reported on February 24th that, according to SEC filings, BlackRock's iShares has submitted a revised S-1 report to launch the "iShares Staked Ethereum Trust ETF" (ticker symbol ETHB) on Nasdaq. This trust is a legal trust in Truss, primarily holding ETH. Without affecting its tax eligibility as the settlor, approximately 70%–95% of the assets will be used for Ethereum staking through third-party nodes such as Coinbase to earn staking rewards. The product uses a basket of 40,000 units for redemption and can be redeemed with cash or physical ETH. Only authorized participants can redeem directly from the trust. The base fee is 0.25% annualized, reduced to 0.12% for the first $2.5 billion in assets during the first 12 months after listing. The trust expects to continue issuing units under controlled risk conditions.