BlackRock Moves Closer to Staked Ethereum ETF with Key Delaware Filing

BlackRock has taken a definitive step toward launching a staked Ethereum exchange-traded fund (ETF), registering the name “iShares Staked Ethereum Trust” in Delaware on Wednesday. This type of corporate registration is widely considered a key early indicator that a new ETF is in development.

The filing was submitted by Daniel Schweiger, the same BlackRock managing director who handled the asset manager’s initial iShares Ethereum fund application in 2023. The move reinforces BlackRock’s strategy to expand its crypto product suite, following a July proposal from Nasdaq to add staking capabilities to BlackRock’s existing iShares Ethereum Trust (ETHA).

The potential fund would enter a competitive landscape, with rivals like 21 Shares and Grayscale having also submitted similar proposals. It would also build upon the success of ETHA, which is the largest Ethereum ETF by assets with nearly $11.5 billion under management.

While the current regulatory environment has been more open to crypto ETFs, the Securities and Exchange Commission (SEC) has yet to greenlight many funds that offer staking rewards. Despite this hurdle, senior Bloomberg ETF analyst Eric Balchunas predicts that BlackRock’s formal filing for the new staking fund is “coming soon.”