BLACKROCK SETS SIGHTS ON ETHEREUM STAKING ETF WITH NEW DELAWARE TRUST
BlackRock has taken another step into Ethereum’s staking ecosystem by establishing a new Delaware trust that could pave the way for a staking-based Ethereum exchange-traded fund (ETF). The iShares Staked Ethereum Trust was officially registered as a statutory trust in Delaware on November 19, according to records from the Delaware Division of Corporations.
A New Setup for a Staking-Focused Ethereum Product
Although product documentation has not yet been released, the trust’s registration is publicly accessible through Delaware’s state search portal. The filing was handled by Daniel Schweiger, a Wilmington-based BlackRock managing director who previously oversaw the registration of the iShares Ethereum Trust in late 2023.
The new trust was registered under the Securities Act of 1933, which mandates detailed disclosures before the product can be offered to the public.
BITCOIN INVESTORS ALERT: CAN PRICES RALLY WHILE FEAR DOMINATES THE MARKET?
A Foundational Step, Not a Full SEC Filing
This move marks an initial step for BlackRock, rather than a full submission to the U.S. Securities and Exchange Commission (SEC). The firm would still need to file a Form S-1 with the SEC before the product could be offered to the public. BlackRock has not provided a timeline and declined to comment when approached by reporters.
Delaware remains a popular choice for U.S. financial entities due to its favorable business laws and corporate framework. Many ETF issuers, including BlackRock, use the state for early-stage registrations when preparing new products.
How the New Trust Fits into BlackRock’s ETF Strategy
The new Delaware trust complements ETHA, BlackRock’s spot Ethereum ETF launched in July 2024, which has drawn over $13 billion in inflows. Unlike ETHA, the new trust is designed with staking in mind.
In July 2025, Nasdaq filed a Form 19b-4 to allow ETHA to stake ETH with approved validators. This update addresses key considerations such as custody, slashing penalties, and liquidity when unstaking, while also enabling the fund to earn staking rewards. Annual rewards from Ethereum staking typically range between 3–5%, and issuers must detail validator selection, reward tracking, and handling of locked ETH as part of the SEC review process.
Momentum Across the ETF Market
BlackRock’s move comes amid a wave of staking-focused ETF developments. In October 2025, Grayscale received approval to add staking to ETHE and its Mini Trust ETF, becoming the first 1933 Act Ethereum funds allowed to earn rewards. Other firms, including Fidelity, 21Shares, Franklin Templeton, and REX-Osprey, have filed similar updates. REX-Osprey already offers a staked Solana ETF and introduced a staked ETH version in September.
BlackRock’s head of digital assets, Robert Mitchnick, noted in a Nov. 19 interview that staking features could attract $10–20 billion in new capital by mid-2026. Analysts expect new staking products to lock up a significant portion of ETH, potentially impacting market liquidity and long-term supply.
IS BITCOIN FACING A LIQUIDITY SQUEEZE? BIANCO LINKS 2025 TREND TO THIS KEY INDICATOR
Attention now turns to BlackRock’s potential Form S-1 filing, which would represent the next step toward launching a yield-bearing Ethereum ETF.
FAQs
Q: What did BlackRock recently do in the Ethereum staking space?
A: BlackRock established a new Delaware trust called the iShares Staked Ethereum Trust, potentially paving the way for a staking-based Ethereum ETF.
Q: Has BlackRock filed a full SEC application for the ETF?
A: No. This is a foundational step, not a full SEC submission. BlackRock would still need to file a Form S-1 before the product can be offered publicly.
Q: How does this new trust fit with BlackRock’s existing Ethereum ETF offerings?
A: It complements ETHA, BlackRock’s spot Ethereum ETF launched in July 2024. Unlike ETHA, the new trust is designed to allow staking and earn staking rewards.
Q: How does this move align with the broader ETF market?
A: BlackRock’s move follows a trend of staking-focused ETFs. For example, Grayscale received approval in October 2025 to add staking to ETHE, and other firms like Fidelity, 21Shares, Franklin Templeton, and REX-Osprey have filed similar updates.
Q: What potential impact could staking ETFs have on the Ethereum market?
A: Staking ETFs could attract $10–20 billion in new capital by mid-2026 and lock up a significant portion of ETH, affecting market liquidity and long-term supply.
