- The trust was established on November 19 under the Securities Act of 1933.
- Filing an S-1 with the SEC would be required before bringing the product to market.
- ETHA, BlackRock’s spot Ethereum ETF, has attracted more than $13 billion in inflows.
BlackRock has taken another step toward a staking-focused Ethereum ETF by forming a new statutory trust in Delaware, signaling further movement in the rapidly growing market for yield-generating crypto products.
The trust, called iShares Staked Ethereum Trust ETF, was officially formed on November 19, according to Delaware state records.
While the filing does not include product-level documents, it contributes to a broader industry shift toward staking components in regulated ETFs.
This move gives BlackRock the flexibility to explore yield-bearing structures while competitors such as Grayscale, Fidelity, 21Shares, Franklin Templeton and REX-Osprey advance 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, a framework that requires full disclosure of material information before a product is offered to investors.
The Delaware registration functions as a preliminary step rather than a finalized submission to the U.S. Securities and Exchange Commission.
To progress toward a market offering, BlackRock would still need to file a Form S-1; the firm has not provided a timeline for that filing.
Delaware remains a preferred state for early-stage ETF formations because of its corporate and regulatory framework, and BlackRock has frequently used this route when preparing digital-asset products.
Context for BlackRock’s Ethereum ETF strategy
The new trust now sits alongside ETHA, BlackRock’s spot Ethereum ETF that launched in July 2024.
ETHA has drawn more than $13 billion in inflows and currently does not activate staking on its holdings.
In July 2025, Nasdaq filed a Form 19b-4 to allow ETHA to stake ETH with approved validators.
If approved, that change would introduce staking rewards while requiring detailed disclosures on custody arrangements, risk mitigation, validator selection and management of locked ETH.
Ethereum staking rewards generally range from roughly 3% to 5% annually; issuers must explain how they will track, calculate and distribute those rewards to investors.
Growth of staking-focused ETFs
BlackRock’s step comes as the broader ETF market accelerates toward staking products.
Grayscale received approval in October 2025 to incorporate staking within ETHE and its Mini Trust ETF, becoming the first 1933 Act Ethereum funds permitted to capture staking rewards.
Other issuers, including Fidelity, 21Shares, Franklin Templeton and REX-Osprey, have submitted similar filings.
REX-Osprey already operates a staked Solana ETF and launched a staked Ethereum version in September.
Robert Mitchnick, head of digital assets at BlackRock, has said that staking features across ETFs could attract $10 billion to $20 billion by mid-2026.
Market observers now see a potential S-1 filing from BlackRock as the next catalyst that could bring the new trust closer to becoming a yield-producing Ethereum ETF.
Rising market interest in Ethereum staking
ETF analysts note that broadening staking options could lock a significant amount of ETH into regulated products, with potential effects on liquidity and long-term supply.
The combination of new filings, updated fund structures and rising capital inflows has produced an intense competitive race among issuers.
BlackRock’s new trust represents another step in that race and highlights how institutional demand for Ethereum staking continues to reshape the ETF landscape.