BlackRock, the $13.5 trillion asset manager, has registered a new staked Ethereum (ETH) exchange-traded fund (ETF) in Delaware, signaling its intent to broaden its Ethereum product lineup beyond its flagship iShares Ethereum Trust ETF (ETHA).

The Delaware registration is an early procedural step toward regulatory approval, with additional filings required before the product can go live. This new ETF would complement ETHA, which has attracted $13.1 billion in inflows since its launch in July 2024. Currently, ETHA does not stake its Ether, citing operational and regulatory complexities, though BlackRock proposed a rule change with the SEC in July to enable staking.

According to Bloomberg ETF analyst Eric Balchunas, the staked ETH ETF is registered under the Securities Act of 1933, ensuring transparency, investor protection, and full disclosure before shares are sold.

The filing comes as other issuers, such as REX-Osprey and Grayscale, launched staked ETH ETFs in September and October. Staking could enhance returns by providing a steady yield—currently averaging 3.95% annually—on top of price exposure, transforming the fund into a total-return product and appealing to income-focused investors.

While the crypto ETF space has seen a flurry of altcoin-focused products, BlackRock has largely abstained from altcoin ETFs, instead recently filing a Bitcoin Premium Income ETF, designed to generate yield through covered call options.

This development positions BlackRock to expand its crypto offerings while providing investors with a combination of price exposure and staking yields, potentially increasing Ethereum ETF adoption among yield-conscious market participants.