BlackRock Registers New Staked Ethereum Trust in Delaware

BlackRock formed the iShares Staked Ethereum Trust ETF on Nov. 19, 2025, in Delaware.

Staked ETH ETFs could offer ~3.95% annual yield, attracting $10–20B in new capital by 2026.

BlackRock joins VanEck, Grayscale and REX-Osprey in competing for staking-enabled Ethereum ETFs.

BlackRock has registered a new staked Ethereum trust in Delaware, aiming to offer a yield-focused Ethereum ETF. The iShares Staked Ethereum Trust ETF was formed on November 19, 2025, according to Delaware Division of Corporations records. The filing represents the first step toward a regulatory submission for a staking-enabled Ether product.

Early Steps Toward Productive ETH ETF

The Delaware registration is an initial step and does not yet constitute a full SEC filing. BlackRock would still need to submit a Form S-1 under the Securities Act of 1933. Daniel Schweiger, a managing director overseeing BlackRock’s previous Ethereum filings, handled the registration. Delaware is often used for early-stage ETF registrations due to its favorable corporate laws.

The new trust complements BlackRock’s iShares Ethereum Trust ETF (ETHA), which has attracted $13.1 billion in inflows since July 2024. ETHA currently does not stake Ether due to operational and regulatory challenges. However, Nasdaq filed a Form 19b-4 with the SEC in July to allow ETHA to stake through approved validators.

Competition in Staked ETFs

BlackRock’s move follows filings from VanEck, REX-Osprey, and Grayscale for staking-enabled Ethereum products. Grayscale received SEC approval in October 2025 to add staking to its ETHE and Mini Trust ETF. REX-Osprey already offers a staked Solana ETF and introduced a staked ETH version in September.

The filings indicate rising interest in products offering staking returns. Analysts note that Ethereum staking generates approximately 3.95% annual yield, providing additional income beyond price exposure. BlackRock projects staking features could attract $10–20 billion in new capital by mid-2026.

Regulatory and Market Considerations

The SEC has recently introduced a generic listing standard, allowing faster approvals for crypto ETPs without individual rule changes. BlackRock’s proposed staked ETF would need to address key concerns, including custody, validator selection, reward tracking, and unstaking liquidity. Incorporating staking would turn the ETF into a total-return product, appealing to yield-focused investors.

With over 70 crypto products awaiting regulatory approval, BlackRock’s filing signals a major expansion in the Ethereum ETF space. The firm has not provided a timeline for its S-1 submission, but the Delaware registration establishes the legal foundation for a staking-focused Ether ETF.

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