BlackRock has registered a new Staked Ethereum Exchange-Traded Fund (ETF) in Delaware, indicating that the asset management company, which manages $13.5 trillion in assets, is now ready to expand beyond its flagship Ethereum ETF product.
The Delaware name registration is one of the first steps that fund issuers must take to apply for a new ETF. However, BlackRock still needs to submit other relevant documents to get the proposed product on track for regulatory approval.
This will also complement BlackRock's iShares Ethereum Trust ETF (ETHA), which has attracted $13.1 billion in inflows since its launch in July 2024. BlackRock has not added staking features to its spot Ethereum product, stating on its website:
However, in July, the company, along with other issuers, proposed a rule change to the SEC (U.S. Securities and Exchange Commission) to incorporate staking into ETHA.
The SEC, under the Trump administration, has been more open to new cryptocurrency exchange-traded products, recently introducing universal listing standards that speed up the approval process, as each application no longer requires case-by-case evaluation.
Bloomberg ETF analyst Eric Balchunas noted that BlackRock's Staked ETH ETF product is registered under the Securities Act of 1933, which requires strong transparency and investor protection measures, as well as full disclosure before stocks are publicly sold.
Currently, about 70 cryptocurrency products are awaiting regulatory approval, having been stalled due to the U.S. government shutdown in October and November.
BlackRock's application comes at a time when REX-Osprey and Grayscale launched Staked ETH ETF products in September and October.
Incorporating staking into the Ethereum ETF can enhance returns by adding a stable income component on top of price exposure, transforming the fund into a total return product.
As a result, it could broaden the product's appeal to income-focused investors who may have avoided Ethereum ETF products due to a lack of income.
According to Blocknative data, the average annual return for ETH staking is about 3.95%.
While other issuers have applied for numerous altcoin-focused ETFs in recent months, BlackRock seems to have chosen restraint, recently applying only for a Bitcoin Premium Yield ETF in September as a sequel to its iShares Bitcoin Trust ETF.
The Bitcoin Premium Yield ETF is also designed to generate income by selling covered call options and collecting premiums.
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Original article: “BlackRock hints at developing new Staked Ethereum (ETH) Trust ETF”
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