The iShares Staked Ethereum Trust (ETHB) is BlackRock’s flagship spot Ethereum ETF, uniquely designed to provide investors with both ETH price exposure and integrated staking yields. While the standard iShares Ethereum Trust (ETHA) offers pure price tracking, ETHB differentiates itself by actively staking 70%–95% of its holdings under normal market conditions, distributing rewards to shareholders on a quarterly basis.

After a highly anticipated filing process that began in late 2025, the fund officially launched on the Nasdaq following its final SEC approvals in early 2026. The trust features a competitive 0.25% annual sponsor fee, which is currently discounted to 0.12% for the first 12 months (or until the fund reaches $2.5 billion in assets). To facilitate the staking process, 18% of the gross staking rewards are allocated to BlackRock and Coinbase Prime, the fund's execution agent.

Key Fund Structure & Custody

The ETF operates with a robust institutional framework to ensure security and liquidity:

• Primary Custodian: Coinbase Custody Trust Company.

• Secondary Custodian: Anchorage Digital Bank N.A. (serving as an alternative custodian).

• Trading Units: Shares trade in standardized baskets of 40,000 units.

• Estimated Yield: Based on current 2026 network benchmarks, the fund targets an annualized staking yield of approximately 3%, net of validator fees.

Since its listing, ETHB has become a primary vehicle for institutional investors seeking "total return" on Ethereum without the technical complexities of managing individual validator nodes or private keys.