Asset management giant BlackRock is actively working to add staking features to its Ethereum spot ETF 'iShares Ethereum Trust (ETHA)'. To this end, Nasdaq has submitted a revised 19b-4 filing to the SEC.
The first cryptocurrency staking ETF in the U.S., 'REX-Osprey Solana Staking ETF', was just approved by the SEC earlier this month, making the timing of BlackRock's application quite intriguing and reigniting the market's high interest in the development prospects of cryptocurrency staking ETFs.
Apart from BlackRock, other issuers such as 21Shares and Grayscale Investments have also submitted applications to introduce staking features for Ethereum ETFs.
Ethereum spot ETFs set a record for the highest single-day net inflow on Wednesday, totaling $726 million, with BlackRock's ETHA attracting nearly $500 million alone. Since July, Ethereum spot ETFs have accumulated $2.27 billion in inflows, setting a record for the highest monthly net inflow since their launch.
BlackRock's ETHA and several other Ethereum spot ETFs are expected to be approved for trading by the SEC in July 2024, and as of July 17 this year, the AUM (Assets Under Management) of ETHA has surpassed $7.9 billion.
Bloomberg ETF senior analyst James Seyffart pointed out on social media platform X that there are currently several staking applications for Ethereum ETFs under review.
The final deadline for early applications is the end of October. The application submitted by BlackRock today has a final deadline around April 2026 (but we believe it may be approved as early as Q4 of this year).
So far, the U.S. has not formally approved any staking-type ETFs under the Securities Exchange Act of 1934; the previously approved Solana staking ETF falls under the Investment Company Act of 1940.
However, the SEC has repeatedly signaled that most staking activities do not constitute securities issuance and do not require separate registration, and it is working on optimizing the approval process for cryptocurrency ETFs.
"BlackRock's Ethereum ETF plans to introduce 'staking'! Analysts estimate that it may be approved as early as Q4 of this year." This article was first published on (Blockcast).
