Overview
- BlackRock submitted an S-1 to the SEC for the iShares Staked Ethereum Trust, starting the review process, with a formal decision timeline pending a separate 19b-4 exchange filing.
- The ETF is slated to trade under the ticker ETHB on Nasdaq and would operate as a new product distinct from BlackRock’s existing spot ether fund.
- The filing contemplates staking a substantial portion of the fund’s ether—described as as much as 70% to 90%—with the stake level adjustable to manage liquidity and risk.
- BlackRock will not run validators; Coinbase Custody is named to safeguard ETH, BNY Mellon will handle cash custody and administration, and Anchorage Digital is listed as an additional custodian.
- The move follows a shift in SEC posture under Chair Paul Atkins, with multiple issuers revisiting staking features, and positions ETHB to pass staking rewards to shareholders if approved.