A New Step Toward Staking-Enabled Ethereum ETFs
BlackRock has created a new statutory trust in Delaware called the iShares Staked Ethereum Trust ETF. The registration, filed on November 19, 2025, hints that the company is preparing to launch an Ethereum ETF that supports staking. Although the filing does not include full ETF documentation, these early trust formations often appear before an issuer sends a formal application to the U.S. Securities and Exchange Commission.
BlackRock has been moving toward staking for some time. In July 2025, Nasdaq submitted an amended 19b-4 filing that sought permission for the existing iShares Ethereum Trust (ETHA) to stake some of its ether. The proposed amendment noted that any staking rewards would count as income for the trust.
Regulatory Roadblocks Slow the Process
The SEC has not approved the staking proposal yet. The agency has postponed its decision several times, most recently pushing the review deadline to October 30, 2025. This cautious approach reflects broader concerns surrounding staking-based ETFs. Regulators continue to examine the operational structure of staking, including validator selection, custody procedures, and how staking rewards should be treated for accounting and reporting purposes.
However, BlackRock isn’t the only firm trying to launch yield-enhanced Ethereum products. Other large asset managers—including Fidelity, Franklin Templeton, and Grayscale—have submitted similar proposals. Their interest suggests that the market for staking-enabled ETFs is quickly becoming competitive.
What This Means for Investors
BlackRock’s decision to form a separate Staked Ethereum trust may give the company more flexibility to manage staking-related risks without affecting its core ETH holdings. If the SEC approves the product, investors could gain exposure to Ethereum while also earning staking rewards. That combination is appealing at a time when traditional yields remain relatively low.
Market analysts argue that staking could become a major selling point for Ethereum ETFs. By offering the possibility of passive income, these products may draw in more institutional investors who are looking for diversified yield strategies. Still, the entire effort depends on regulatory clarity. A supportive SEC ruling might accelerate innovation in this space, while a rejection or extended delay could restrict growth.
Potential Benefits for the Market
- Increased flexibility for ETF issuers to separate staking operations from core asset exposure
- A new source of potential yield for investors seeking more than simple price appreciation
- Stronger competition among asset managers, which may lead to more cost-efficient products
If regulators give the green light, staking-enabled ETFs could reshape how institutions gain exposure to Ethereum. Until then, the industry will continue watching the SEC’s next move.
