BlackRock, the world’s largest asset manager, signaled renewed interest in Ethereum after registering a new Delaware statutory trust on Wednesday, a move that suggests plans for a staked Ether exchange-traded fund.
The trust, named the iShares Staked Ethereum Trust ETF, was formed on November 19, according to Delaware Division of Corporations records.
The filing was submitted by Daniel Schweiger, a BlackRock managing director who also filed the asset manager’s first iShares Ethereum fund in late 2023. Delaware name registrations are typically one of the earliest public indicators that a fund is in development.
Evolving Regulatory Landscape for Crypto ETFs
The potential launch arrives amid a regulatory environment that has grown more permissive toward crypto-related exchange-traded products, yet funds that directly distribute staking rewards remain uncommon.
In October, Grayscale won approval to enable staking for its U.S. Ethereum Trust ETF and related products, becoming the first spot-market funds registered under the Securities Act of 1933 to unlock staking rewards for holders.
Earlier this year, REX-Osprey launched a staking Solana ETF and later unveiled an ETH staking vehicle using the less-common Investment Company Act of 1940 structure.
Industry Signals and Market Context
Industry observers say BlackRock’s Delaware registration is a strong signal that a formal filing could follow. Eric Balchunas, senior ETF analyst at Bloomberg, described the name registration as evidence that a BlackRock staking filing is “coming soon.”
Nasdaq updated a 19b-4 filing in July to add staking permissions for BlackRock’s existing iShares Ethereum Trust (ETHA), and rival managers such as 21Shares and Grayscale have previously submitted proposals to modify their Ethereum funds to accommodate staking.
ETHA remains the largest Ethereum ETF by assets under management, with nearly $11.5 billion in holdings as of November 17, though it experienced roughly $165 million in outflows amid recent market weakness.
Future Implications and Regulatory Scrutiny
A new iShares staking vehicle would test investor appetite for yield-bearing crypto products while raising operational questions around custody, validator selection, and regulatory oversight.
If BlackRock proceeds, the launch would mark another milestone in Wall Street’s broader embrace of crypto infrastructure. Regulators will be watching.