CMC News

#BlackRock Seeks SEC Approval for Staked $ETH ETF

The world's largest asset manager filed paperwork Friday seeking SEC approval for an #Ethereum fund that includes staking yields. The iShares Ethereum Staking Trust represents BlackRock's second $ETH product after launching a spot fund last year.

The registration statement follows a Delaware name filing completed several weeks ago. BlackRock told regulators the fund will track Ethereum's price while capturing staking rewards, subject to the sponsor's assessment of legal and tax risks.

Former SEC Chair Gary Gensler previously instructed firms to remove staking features from crypto #ETF applications, arguing that such services could constitute unregistered securities offerings. Current Chair Paul Atkins appears to have softened that stance, with multiple issuers now submitting or amending filings to include staking.

BlackRock opted to create a separate fund rather than modify its existing product. The iShares Ethereum Trust ETF trading under ticker ETHA holds approximately $11 billion in assets, making it the largest spot $ETH fund available to U.S. investors.

The filing comes as other issuers have already implemented staking features. Grayscale added staking to its #Ethereum fund, while Fidelity built the capability into its $SOL ETF launched earlier this year.