Nasdaq has submitted a proposal to the U.S. SEC to modify its iShares Ethereum Trust (ETHA) and introduce staking functionalities. According to the filing, Nasdaq seeks to remove a clause that prohibits staking of the ETF's assets and insert a new clause that allows it.
Several asset managers have submitted similar staking applications to the SEC, but the timing of Nasdaq's application is noteworthy. This latest filing comes after the SEC approved its pioneering staking ETF, the REX-Osprey Solana Staking ETF, indicating a shift in stance by the securities regulator.
"The sponsor may stake, or cause to be staked, all or part of the ether of the trust through one or more trusted staking providers," the document reads.
If approved, the BlackRock Ethereum ETF will generate staking rewards and redistribute them among shareholders. The application reveals that the approval will improve the creation and redemption processes, and that Coinbase is positioned as the preferred partner for the ETF's staking.
Bloomberg analyst James Seyffart revealed on X that, given the timing of BlackRock's application, the final deadline will be April 2026. However, Seyffart notes that approval for staking could arrive even in the last quarter of 2025.