BlackRock Files S-1 for New Staked Ethereum ETF as ETH Demand Grows

BlackRock has taken another major step into the digital asset ecosystem, filing an S-1 registration with the U.S. SEC for its new iShares Staked Ethereum Trust ETF (ETHB). The proposed fund differs from the firm’s popular spot Ethereum ETF, ETHA, by incorporating staking rewards into its performance. According to the filing, the trust will passively track Ethereum’s price while staking a portion of its ETH holdings, allowing investors exposure to both ETH price movements and staking yield without directly participating in the staking process.

The filing follows the creation of a Delaware statutory trust in November—an early indicator that BlackRock intended to launch a new crypto-related product. The firm had previously attempted to integrate staking into ETHA, but the SEC repeatedly delayed decisions on the proposal, most recently in September. It remains uncertain whether ETHB impacts BlackRock’s plans to add staking functionality to ETHA. A company representative declined to comment.

Meanwhile, institutional interest in Ethereum continues to grow. BitMine Immersion Technologies, ranked as the largest Ethereum treasury holder, purchased 138,452 ETH last week—worth about $429 million—bringing its total holdings to 3.864 million ETH (nearly $12 billion). This marks the firm’s biggest purchase in almost two months and underscores renewed optimism as Ethereum rebounds.

Staking-focused ETFs have already entered the U.S. market following the approval of generic listing standards for commodity trusts. Grayscale’s ETHE and the REX-Osprey ETH + Staking ETF gained early traction, though neither has approached BlackRock’s dominance. ETHA currently manages over $11 billion (3.6 million ETH), overshadowing the combined ~$5 billion held by Grayscale’s Ethereum funds.

BlackRock’s strong ETF performance extends to Bitcoin as well. Its iShares Bitcoin Trust (IBIT) leads the market with roughly $70 billion in assets under management. As ETH trades near $3,122 and Bitcoin hovers around $90,390, ETHA has climbed more than 3% despite relatively flat ETH price action.

If approved, ETHB will trade on Nasdaq alongside BlackRock’s existing crypto ETFs, offering investors another regulated gateway into Ethereum staking exposure.