- The trust was established on November 19 under the Securities Act of 1933.
- Filing an S-1 form with the SEC is required before the product can be launched.
- ETHA, BlackRock’s spot Ethereum ETF, has attracted more than $13 billion in inflows.
BlackRock has taken a further step toward a staking-focused Ethereum ETF by forming a new Delaware trust, signaling the next move in the fast-growing market for yield-generating crypto products.
The trust, named the iShares Staked Ethereum Trust ETF, was officially established on November 19, according to state records.
While the filing does not include product documents, it contributes to a broader shift in the industry toward staking features inside regulated ETFs.
This move positions BlackRock to explore yield-producing structures as competitors such as Grayscale, Fidelity, 21Shares, Franklin Templeton and REX-Osprey develop their own staking plans for 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 a product is offered to investors.
This registration represents a preliminary step rather than a full submission to the U.S. Securities and Exchange Commission.
To proceed, BlackRock would still need to file a Form S-1; the firm has not provided a timeline for that filing.
Delaware remains a popular state for early ETF formations due to its established corporate rules, and BlackRock has often used the same approach when preparing digital asset products.
Connection to BlackRock’s Ethereum ETF strategy
The trust now 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 assets held in its shares.
Nasdaq filed a Form 19b-4 in July 2025 to allow ETHA to stake ETH with approved validators.
If approved, that update would introduce staking rewards and require detailed disclosures on custody arrangements, risk mitigation, validator selection and the handling of locked ETH.
Staking rewards on Ethereum 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 within ETHE and its Mini Trust ETF, making them the first Ethereum funds under the Securities Act of 1933 to be permitted to earn staking rewards.
Other issuers, including Fidelity, 21Shares, Franklin Templeton and REX-Osprey, have filed similar applications.
REX-Osprey already operates a staked Solana ETF and launched a staked Ethereum version in September.
Robert Mitchnick, head of digital assets at BlackRock, said staking features in ETFs could attract between $10 billion and $20 billion by mid-2026.
Market observers now expect the next catalyst to be BlackRock’s potential S-1 filing, which would bring the new trust closer to becoming a yield-producing Ethereum ETF.
Rising market interest in Ethereum staking
ETF analysts say expanding staking options could lock up a meaningful portion of ETH within regulated products, affecting liquidity and long-term supply dynamics.
The combination of new filings, updated fund structures and rising capital inflows has sparked a competitive race among issuers.
BlackRock’s new trust adds another step to that process, illustrating how institutional demand for Ethereum staking continues to reshape the ETF landscape.