BlackRock Expands Crypto Portfolio with iShares Staked Ethereum Trust ETF in Delaware
BlackRock Expands Crypto Portfolio
Key Highlights
- BlackRock's iShares has registered a Staked Ethereum Trust ETF in Delaware, broadening its cryptocurrency offerings.
- The trust incorporates staking functionalities, leveraging Ethereum's proof-of-stake mechanism for potential yield generation.
BlackRock has officially registered a new statutory trust named iShares Staked Ethereum Trust ETF in Delaware, as confirmed by the Delaware Division of Corporations. Such registrations often precede formal ETF applications to the SEC in the evolving crypto landscape.
Following this, Nasdaq submitted Form 19b-4 to the SEC to facilitate staking for BlackRock’s iShares Ethereum Trust (ETHA), enabling the ETF to stake Ether with authorized providers and classify staking rewards as income.
Recently, the SEC eliminated the need for 19b-4 filings for crypto exchange-traded products. Under new generic listing standards, exchanges can now list qualifying crypto-commodity ETPs without a product-specific 19b-4 rule change.
BlackRock joins industry players like 21Shares, Fidelity, Franklin Templeton, and Grayscale in integrating staking into their Ethereum ETFs. Prior to the approval of spot ETH ETFs, firms had withdrawn staking from applications due to potential classification as unregistered securities.
The REX-Osprey ETH + Staking ETF marks the first US Ethereum staking ETF, offering investors ETH exposure while distributing native staking rewards.