The world's largest asset manager BlackRock listed its third crypto ETF on the Nasdaq exchange on March 12, 2026 — the iShares Staked Ethereum Trust (ticker ETHB). The fund is the first US exchange-traded product that combines direct spot Ethereum exposure with passive income from staking.
How the fund works
The fundamental difference between ETHB and the existing iShares Ethereum Trust (ETHA) lies in active staking. While ETHA simply holds Ethereum in custody, the new fund delegates 70% to 95% of its coins to staking through the Coinbase platform. This generates additional income for fund shareholders without any effort on their part.
The revenue model works as follows: 82% of gross staking income goes to investors, while the remaining 18% is retained by BlackRock and Coinbase as a fee for providing staking infrastructure. In practice, an investor buys a share through a regular brokerage account and immediately starts earning from ETH staking.
Attractive terms for early investors
BlackRock has deployed a proven fee reduction tactic to attract early capital. The standard ETHB sponsor fee is 0.25%, but during the first year or until assets under management reach $2.5 billion, the fee has been halved to 0.12%. A similar strategy already proved effective during the launch of the iShares Bitcoin Trust (IBIT), which attracted over $55 billion and became one of the most successful ETF launches in stock market history.
The competitive fee structure combined with staking income is expected to make ETHB an attractive alternative to direct ETH custody for institutional investors seeking a regulated yield-bearing instrument.
Why it matters for the crypto market
The ETHB launch is a landmark event for several reasons. This marks the first time in the US that an exchange-traded fund combines Ethereum price exposure with staking reward accrual in a single regulated product. Previously, investors had to independently configure validators or use specialized DeFi protocols to earn such income.
Furthermore, the entry of the world's largest asset manager into the staking ETF segment signals growing institutional appetite for yield-generating crypto instruments. With the core Ethereum fund ETHA already holding approximately $6.5 billion in assets, ETHB could significantly expand this base by attracting yield-focused investors.
BlackRock's crypto ETF lineup
- IBIT (Bitcoin Trust): over $55 billion in AUM — the world's largest crypto ETF
- ETHA (Ethereum Trust): approximately $6.5 billion — spot ETH without staking
- ETHB (Staked Ethereum Trust): new fund with built-in staking yield
What it means for investors
The arrival of ETHB significantly lowers the barrier to Ethereum staking for a broad range of market participants. Both retail and institutional investors can now receive staking rewards through a regular brokerage account — without creating a crypto wallet, selecting a validator, or studying blockchain technical details. This could noticeably increase the total amount of staked ETH on the network and strengthen the security of the Ethereum protocol.
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