Overview
- BlackRock filed an S-1 for the iShares Ethereum Staking Trust (ETHB), starting SEC review, with a 19b-4 still needed to trigger a formal timeline in a more receptive regulatory climate under Chair Paul Atkins.
- ETHB is a separate product from BlackRock’s existing iShares Ethereum Trust (ETHA).
- The fund plans to stake most of its ETH—potentially up to about 90%—via regulated providers, with Coinbase Custody as primary and Anchorage Digital as backup.
- If approved, shares would trade on Nasdaq using a trust structure in which only authorized participants create and redeem shares in bulk.
- The filing cautions that staking rewards are not guaranteed and allows the trust to reduce its staked portion during network stress to protect liquidity.