BlackRock launches Ethereum Staking ETF, SEC's stance shifts under new chairman

Source: CryptoNewsNet Original Title: Big Bull BlackRock Makes the Anticipated Move in Ethereum (ETH) Original Link: BlackRock, the world’s largest asset management company, has officially launched a new exchange-traded fund (ETF) aimed at expanding investor access to Ethereum (ETH) staking yields.

The company has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for the fund, which is described as a Staked Ethereum ETF.

Although this filing has formally initiated the review process, the exchange where the fund will be listed must also submit a 19b-4 form to allow the SEC to set a specific timeline for approval or rejection.

The new product is registered as the iShares Ethereum Staking Trust (ETHB). BlackRock’s plan became public last November when it registered the name in Delaware, but that transaction did not constitute an official filing with the SEC.

BlackRock launched its first Ethereum-related ETF in July 2024, alongside other issuers. However, at that time, then-SEC Chairman Gary Gensler required companies to remove the staking component from their filings. The agency argued that staking services offered on some platforms could constitute unregistered securities offerings.

With the appointment of new SEC Chairman Paul Atkins, the agency appears to be easing its stance on staking. Many issuers, including BlackRock and VanEck, have begun to add staking features to their ETF filings. While some companies are updating existing funds, BlackRock is launching an entirely new product.

BlackRock’s existing product, the iShares Ethereum Trust (ETHA), holds approximately $11 billion in ETH and will remain unchanged. If approved, the new staking-focused ETF will allow investors to benefit from Ethereum’s yield-generating staking mechanism without having to stake for themselves.