TLDR
In the US, no approved spot ETH ETF currently stakes. BlackRock filed for the iShares Ethereum Staking Trust (ETHB), which would add staking if approved per a recent market report.
- ETHB is designed to track ETH and add staking rewards from the funds staked ether per a filing summary.
- The proposal targets staking 70 to 90 percent of ETH with Coinbase and Anchorage as custodians per a coverage note.
- Approval is pending and requires both S-1 review and a 19b-4 listing rule filing per a regulatory brief.
Deep Dive
1. What ETHB Is
ETHB is a proposed fund that would mirror ETHs price and add staking rewards from a portion of the trusts holdings, structured as a passive vehicle to capture yield without investors running validators per a detailed report.
- ETHB is separate from BlackRocks existing spot ETH fund (ETHA), which does not stake, and is intended to offer a yield-bearing variant per the report above.
If approved, ETHB could offer exchange-traded exposure to ETH price plus staking yield in one instrument.
2. Regulatory Status
BlackRock submitted an S-1 for ETHB. The listing exchange must also file a 19b-4 to start the formal approval clock, and the SEC has not yet approved staking features in US spot ETH ETFs per a regulatory brief.
- Earlier attempts to add staking to ETHA faced delays, making a dedicated staking product a cleaner path per a coverage piece.
- Commentary suggests a potential shift in tone under current SEC leadership, but approval remains uncertain per a policy update.
Until ETHB clears the SEC process, US investors do not have an approved staking ETF. Treat this as a pending product, not a live feature.
3. Mechanics and Custody
ETHB plans to stake roughly 70 to 90 percent of available ETH, with a liquidity sleeve to handle redemptions. Coinbase Custody is designated as primary ETH custodian, Anchorage Digital as an alternative, and BNY Mellon for cash per a filing summary.
- The trust would use third-party staking providers and distribute staking rewards to shareholders, acknowledging slashing and withdrawal risks per a technical rundown.
Operationally, the fund aims to maximize staking while managing liquidity and custody risk. The yield would be fund-level and subject to operational constraints.
Conclusion
Answering your question directly: the ETF seeking to add staking is BlackRocks proposed ETHB, and it is not yet approved per the market report. If approved, it would offer ETH price exposure plus staking rewards, with custody and staking handled by regulated service providers per the filing summary. Until then, US spot ETH ETFs remain non-staking.
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