BlackRock, the world’s largest asset manager, has taken a significant step toward launching a yield-generating Ethereum fund in the U.S., according to an amended S-1 registration statement on Tuesday.
According to the filing, a BlackRock affiliate purchased 4,000 seed shares at $25 each, providing $100,000 in initial capital for the trust.
The iShares Staked Ethereum Trust ETF, expected to trade under the ticker ETHB, plans to “stake as much of the Trust’s ether as practicable,” equating to 70%–95% under normal market circumstances, the statement reads.
“Early 2026 reference benchmarks show annualized rates around 3% on average,” BlackRock estimated in its filing. “These historical ranges are descriptive of average network conditions over those periods and do not guarantee future results,” noting “rewards trended lower as validator participation grew.”
This distinguishes it from BlackRock’s existing spot Ethereum ETF (ETHA), the largest ETH-based exchange-traded fund, which offers pure price tracking without yield.
BlackRock first hinted it was moving to launch a staking fund last year. The new filing notes a sponsor fee of 0.25% per year, with a promotional waiver reducing it to 0.12% for the first $2.5 billion in assets under management for the first 12 months after launch.
The fund will also set aside 18% cut of gross staking rewards by the sponsor, BlackRock, and execution agent, Coinbase Prime, with the remaining net rewards accruing to the trust and, ultimately, shareholders.
Between 5%–30% of the fund’s total ETH will remain unstaked to facilitate creations, redemptions, and operational needs.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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