Bitaigen Research 
BlackRock is further expanding its digital‑asset product suite with the launch of its newest iShares Staked Ethereum Trust ETF (ticker ETHB). The fund will be listed on the Nasdaq and combines two key features: direct spot exposure to Ethereum and the ability to capture staking rewards. This structure offers investors a more straightforward way to participate in the Ethereum ecosystem.
ETHB belongs to BlackRock’s broader crypto‑asset series, which already includes the iShares Bitcoin Trust ETF (IBIT) and the iShares Ethereum Trust ETF (ETHA). Both of those vehicles are currently the largest of their kind, managing roughly USD 55 billion and USD 6.5 billion respectively. As Robert Mitchnick, BlackRock’s global digital‑assets head, explained, ETHB blends spot‑Ethereum holding with staking income, thereby opening a brand‑new participation pathway for investors.
Fee structure
- An initial sponsor fee of 0.25 %, with a one‑year fee‑waiver period.
- Once assets under management reach the first USD 2.5 billion, the fee will be reduced to 0.12 %.
In this article we break down BlackRock’s newly launched Staked Ethereum ETF, examine its product architecture, risk and return mechanisms, and discuss how it may open the Ethereum ecosystem to traditional investors. By delving into the fee layout and regulatory backdrop, we aim to give readers a comprehensive view of the fund’s positioning and potential value. Please continue reading for the full perspective.
ETHB will use Coinbase as custodian and staking service provider
According to the prospectus filed with the U.S. Securities and Exchange Commission, BlackRock has appointed Coinbase to act as the custodian and to operate the staking service for ETHB. The only validator nodes currently approved are those owned by Figment, Galaxy Digital, and Attestant (the latter being part of Bitwise). Staking rewards are calculated on a monthly basis, but the trust commits to distributing them at least once per quarter to ensure timely payout to shareholders.
First to adopt a “grey‑scale” approach, supporting U.S. Ethereum ETFs with staking
Before ETHB’s debut, several other institutions had already introduced similar staking‑enabled Ethereum ETFs. Grayscale Investments is one of BlackRock’s main competitors in the U.S. crypto‑ETF market. On October 6 2025, Grayscale activated staking for its Grayscale Ethereum Trust (ETHE) and the Grayscale Ethereum Mini Trust (ETH), becoming one of the first U.S. issuers to offer this feature. Subsequently, Grayscale also added staking functionality to its Solana Trust (GSOL) and the Avalanche Staking ETF (GAVA).
In addition to Grayscale, 21Shares and REX‑Osprey have begun providing staking support for their Ethereum ETFs. 21Shares disclosed in February a timetable indicating that staking rewards for its Ethereum ETF are expected to be distributed in 2026.
These points summarize the core aspects of BlackRock’s launch of a staked Ethereum ETF. For a deeper dive into the product’s mechanics and potential yield profile, stay tuned to the Bitaigen platform for future coverage.
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⚠️ Risk Disclaimer: Crypto prices are highly volatile. This is not investment advice.
