BlackRock is taking another major step into Ethereum’s staking ecosystem, laying the groundwork for what could become one of the first large-scale staking-enabled ETH exchange-traded funds. The asset management giant has officially registered a new Delaware trust called the iShares Staked Ethereum Trust ETF, signaling early preparations for a fund that could offer staking rewards to investors.
According to records from the Delaware Division of Corporations, the trust was formed on Nov. 19. The filing was overseen by Daniel Schweiger a BlackRock managing director who also handled the formation of the iShares Ethereum Trust in late 2023.
A foundation for a staking-focused ETH product
While the new entity doesn’t come with public product documentation yet, its registration under the Securities Act of 1933 is a meaningful first step. That legal structure requires full disclosures before any investment product can be offered. However, this filing does not mean the ETF is live BlackRock would still need to submit a full Form S-1 to the SEC.
BlackRock declined to comment on timelines, but industry watchers see this as a clear signal that the firm is preparing to expand its Ethereum product lineup. Delaware remains one of the most popular jurisdictions for ETF-related entities due to its business-friendly regulatory framework and long-standing corporate infrastructure.
Where this fits into BlackRock’s broader ETH strategy
The new trust would sit alongside ETHA, BlackRock’s spot Ethereum ETF launched in July 2024. ETHA has attracted more than $13 billion in inflows and currently does not stake ETH.
That may be changing. In July 2025, Nasdaq filed a 19b-4 proposal that would allow ETHA to stake its Ethereum using approved validators. This raised key questions for regulators about custody risks, slashing penalties, validator selection, and how staking rewards would be distributed or tracked.
With staking yields typically ranging from 3–5% annually, such a move would significantly change how Ethereum ETFs generate returns. Any issuer offering staking must detail how they safeguard staked ETH, handle locked tokens during unbonding periods, and optimize rewards all topics closely scrutinized by the SEC.
Staking ETFs are gaining momentum
BlackRock’s move comes as staking-based ETF applications surge across the market. Grayscale received approval in October 2025 to enable staking on ETHE and its Mini Trust, becoming the first 1933 Act Ethereum funds allowed to earn staking rewards.
Other major issuers including Fidelity, Franklin Templeton, 21Shares, and REX-Osprey have filed similar updates. REX-Osprey already offers a staked Solana ETF, and it launched a staked ETH version earlier this year.
BlackRock’s head of digital assets, Robert Mitchnick, recently said that staking-enabled products could attract $10–20 billion in new inflows by mid-2026. Analysts predict that these ETFs could absorb a meaningful share of staked Ethereum, potentially affecting market liquidity and long-term supply.
With the trust now formed, attention turns to whether BlackRock will file the next piece of the puzzle a public S-1 officially putting a staking Ethereum ETF on the regulatory path.
