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BlackRock is getting closer to deploying Ether ETF
BlackRock, the world’s largest asset manager, on November 19 registered a new legal trust in Delaware, the iShares Staked Ethereum Trust ETF, as noted by Bloomberg Senior ETF Analyst Eric Balchunas.
Registrations in Delaware are procedural first steps that generally precede formal applications for exchange-traded funds with the U.S. Securities and Exchange Commission (SEC) under the Securities Act of 1933.
The next step involves filing a registration statement with the SEC, which could be an S-1 or some other form depending on the structure of the Ether ETF, to put the product on track for regulatory approval.
If approved, the proposed staking fund would complement BlackRock’s iShares Ethereum Trust ETF (ETHA), which has attracted nearly $11.5 billion in assets under management since going live on Wall Street in July 2024.
 In July this year, BlackRock filed a rule change request to add staking functionality to ETHA, a move that would allow the fund to earn rewards by validating transactions on the Ethereum network.
The registration comes as Ethereum staking ETFs have started trading in the US. In October, Grayscale was given the green light to enable native staking for its US Ethereum Trust ETF (ETHE) and Ethereum Mini Trust ETF (ETH) products, becoming the first spot market funds registered under the Securities Act of 1933 to unlock staking rewards for holders.
More recently REX-Osprey revealed an ETH staking fund under the less common Investment Company Act of 1940.
The SEC under the Trump administration has been more open to new exchange-traded products and recently approved new generic listing standards that allow for faster approvals because each application no longer needs to be reviewed on a case-by-case basis.
BlackRock’s proposed Ethereum ETF with staking options could broaden its appeal to yield-oriented institutional investors who may have avoided ETH investment vehicles due to their lack of income.
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