- The trust was established on November 19 under the Securities Act of 1933.
- Filing a Form S-1 with the SEC will be required before the product can be launched.
- ETHA, BlackRock’s spot Ethereum ETF, has attracted more than $13 billion in inflows.
BlackRock has taken another step toward an Ethereum ETF focused on staking by forming a new statutory trust in Delaware, a move that highlights the evolving market for yield-generating crypto products.
The trust, named iShares Staked Ethereum Trust ETF, was officially formed on November 19, according to state records.
Although the filing does not include product documents, it reflects the broader industry shift toward staking features within regulated ETFs.
The action positions BlackRock to explore yield-bearing structures as competitors such as Grayscale, Fidelity, 21Shares, Franklin Templeton and REX-Osprey advance their own staking plans across major digital asset funds.
Delaware trust expands BlackRock’s Ethereum plans
The new trust was registered under the Securities Act of 1933, which requires full disclosure before any product is offered to investors.
This registration represents an initial legal step rather than a full submission to the U.S. Securities and Exchange Commission.
To proceed, BlackRock will still need to file a Form S-1; the firm has not provided a timeline for that filing.
Delaware remains a popular jurisdiction for early-stage ETF setups due to its regulatory structure, and BlackRock has frequently used this route when preparing digital asset products.
Connection to BlackRock’s Ethereum ETF strategy
The newly formed trust sits alongside ETHA, BlackRock’s spot Ethereum ETF launched in July 2024.
ETHA has drawn more than $13 billion in inflows and currently does not stake its holdings.
Nasdaq filed a Form 19b-4 in July 2025 to permit ETHA to stake ETH with approved validators.
If approved, that update would introduce staking rewards while requiring detailed disclosures about custody arrangements, slashing risks, validator selection and handling of locked ETH.
Ethereum staking rewards generally range from about 3% to 5% annually, and issuers must explain how they will track, calculate and distribute those rewards.
Growth in staking-focused ETFs
BlackRock’s move comes as the broader ETF market accelerates toward staking-enabled products.
Grayscale received approval in October 2025 to introduce staking in its ETHE and Mini Trust ETFs, making it the first 1933 Act Ethereum fund authorized to earn staking rewards.
Other issuers, including Fidelity, 21Shares, Franklin Templeton and REX-Osprey, have filed similar proposals.
REX-Osprey already operates a staked Solana ETF and launched a staked Ethereum version in September.
BlackRock digital assets head Robert Mitchnick said staking features across ETFs could attract between $10 billion and $20 billion by mid-2026.
Market observers now view a potential BlackRock S-1 filing as the next catalyst, bringing the new trust one step closer to becoming an income-generating Ethereum ETF.
Rising market interest in Ethereum staking
ETF analysts say expanding staking options could lock substantial amounts of ETH into regulated products, affecting liquidity and long-term supply dynamics.
The combination of new filings, updated fund structures and rising capital inflows has created a competitive race among issuers.
BlackRock’s new trust represents another move in that process, underscoring how institutional demand for Ethereum staking continues to reshape the ETF landscape.