BlackRock, the world's largest asset manager, has officially filed with the U.S. Securities and Exchange Commission (SEC) to launch a groundbreaking Ethereum staking exchange-traded fund (ETF). The proposed iShares Staked Ethereum Trust, trading under the ticker ETHB, aims to transform Ethereum from a passive holding into a yield-generating asset for institutional investors.
The fund's structure is designed to stake between 70% and 95% of the Ethereum it holds. To maintain liquidity for redemptions, it will keep a "Liquidity Sleeve" of 5% to 30% in unstaked ETH. A key feature is the revenue model: the trust plans to distribute 82% of the staking rewards directly to investors. BlackRock and its execution partner, Coinbase, will retain the remaining 18%, with an additional sponsor fee of 0.25% charged on assets.
This initiative builds on the success of BlackRock's existing spot Ethereum ETF, the iShares Ethereum Trust (ETHA), which has accumulated over $6 billion in assets. The ETHB fund received initial seed funding from an investor who purchased 4,000 shares at $0.25 each. While the SEC filing is complete, a specific launch date has not been set; however, experts anticipate the ETF will debut sometime in the first half of 2026.
This move represents a significant policy shift in the United States, as it marks the first time staking rewards are being incorporated into an exchange-traded product structure, a previously unattainable regulatory milestone. The development signals deepening institutional participation in decentralized finance (DeFi) infrastructure, allowing large-scale investors to earn yield on long-term ETH holdings without navigating the technical complexities of staking themselves.
