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BlackRock registered the iShares Staked Ethereum Trust ETF in Delaware on November 19, signaling its move to attract yield-focused institutional demand.
The filing comes as regulatory changes and new competing products are reshaping the cryptocurrency ETF space. Although BlackRock’s registration represents an important step, more documentation is needed to obtain regulatory approval for the proposed fund.
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BlackRock Enters Ethereum Vault Race Amid Regulatory Change
The asset manager is worth $13.5 trillion, And registered in Delaware It’s a typical initial step for ETF issuers. These parameters come before submitting official requests to regulatory authorities.
In a post on Ex, Bloomberg ETF analyst Eric Balkunas noted that BlackRock’s ETH Stacked Mutual Fund Registered under the Securities Exchange Act of 1933.
Earlier this year, BlackRock sought to add staking to its iShares Ethereum Trust (ETHA). Nasdaq, the exchange that lists ETHA, To submit 19b-4 amendment to the SEC in July 2025.
The SEC has shown it before hesitation towards Give the green light to ETFs that include the stack. However, the regulatory horizon for cryptocurrency ETFs has improved.
In September 2025the SEC has approved a public listing For cryptocurrency ETFs. This eliminated the need for prior individual reviews of each ETF by the SEC. These changes made the launch of the products Much faster for compatible offers.
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While the move positions BlackRock to compete directly with other asset managers, they also hope to offer stacked Ethereum products. It is worth noting that some of them have gained a lead in the Ethereum stacked ETF market.
REX-Osprey launched ESK, which offers exposure to Ethereum and staking returns, on September 25, 2025. The fund distributes Monthly stack returns for investors After fees.
REX-Osprey, a strategic partnership between REX Shares and Osprey Funds, today announced the launch of ESK, the REX-Osprey ETH + Staking ETF, the first ETF listed in the United States that gives investors exposure to Ethereum (ETH) as well as staking rewards. .
In October, Grayscale It also allows staking in Its Ethereum and Solana funds. The premiums of the company’s products are integrated into the net asset value of the fund to enhance tax efficiency.
Unlike its other competitors, BlackRock has limited its cryptocurrency ETF portfolio to Bitcoin and Ethereum. The company’s management cited market size, liquidity and institutional demand as key factors In the decision making process.
This selective strategy has so far yielded strong results. appears Data SoSoValue reported that the iShares Ethereum Trust (ETHA) generated cumulative net inflows of $13.09 billion and $11.47 billion in net assets. The ETHA feature also reached $1 billion in its first two months.
BlackRock’s bitcoin ETF, IBIT, did even better. you run Cumulative net inflows into the fund are currently at $63.12 billion, with $72.76 billion in current assets, placing it in first place among Bitcoin ETFs.
The next few months will show whether BlackRock’s deliberate expansion can regain market share from previous staking Ethereum funds. As regulatory barriers are lowered and assets are acquired by competitors, execution and timing will determine the success of BlackRock’s latest cryptocurrency product.
