March 12: BlackRock registered the iShares Staked Ethereum Trust (ETHB) on Nasdaq as a staking ETF that holds spot ETH and stakes ~70–95% of assets, distributing 82% of staking rewards monthly; sponsor fee 0.25% (temporarily 0.12% on first $2.5B AUM in year one). - Coinbase is the primary custodian and staking provider (base fee 10% of rewards, falling to 6% at $20B AUM); other custodial/validator partners include Anchorage, Figment, Galaxy and Attestant, with strict non‑commingling rules. - ETHB joins BlackRock’s crypto lineup alongside IBIT (~$55B AUM) and ETHA (~$6.5B), increasing institutional staking ETF adoption and creating competitive pressure on rivals (e.g., Grayscale) around fees, yields, and custody/security practices.

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ETHB is now part of BlackRock’s existing crypto lineup, which adds the iShares Bitcoin Trust ($IBIT) and the iShares Ethereum Trust (ETHA).
The primary custodian and staking provider of the fund remains Coinbase.

On March 12, BlackRock registered its iShares Staked Ethereum Trust ETF on Nasdaq under the ticker ETHB. This is the first crypto product of BlackRock to include Ethereum staking, and it is the third staked Ethereum product accessible to U.S. investors.

ETHB has spot Ethereum and stakes around 70% to 95% of its holdings on the Ethereum network. Investors get 82% of staking rewards via monthly distributions. The other 18% is further split among the trust, custodians, and staking service providers.

Also, there is a fixed 0.25% sponsor fee, which is temporarily cut down to 0.12% by BlackRock on the first $2.5 billion in assets for the first year. The discount is aimed at aiding the product in making traction early on.

ETHB is now part of BlackRock’s existing crypto lineup, which adds the iShares Bitcoin Trust ($IBIT) and the iShares Ethereum Trust (ETHA). In the current scenario, IBIT manages over $55 billion in assets. ETHA holds around $6.5 billion.

The Custodian and Staking Provider

The primary custodian and staking provider of the fund remains Coinbase. According to an SEC amendment filed March 9, Coinbase will get 10% of staking rewards as a base fee. That fee slips to 6% if the fund goes to $20 billion in assets under management.

The other custodian remains Anchorage Digital. Approved validators for the fund are Figment Inc., Galaxy Blockchain Infrastructure LLC, and Attestant Limited. BlackRock needs validators to keep the fund’s Ethereum in a different keypair.

However, amalgamating with assets from any other entity is restricted. The closest rival of ETHB in the Staking ETF space is Greyscale. Its Ethereum Mini Trust offers 94% of rewards to investors and charges a 0.15% management fee.

Its ETHE product crosses 77% of rewards but has a higher 2.5% management fee. Both BlackRock and Greyscale were introduced by the REX-Osprey ETH+ Staking ETF, which rolled out in September 2025.

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