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Highlights
- The US SEC has acknowledged Nasdaq's filing for staking functionalities in BlackRock's spot Ethereum ETF.
- Several issuers are angling for the SEC to approve their staking applications for crypto ETFs.
- However, Bloomberg analysts are tipping the securities watchdog to approve staking before the end of the year.
The US Securities and Exchange Commission (SEC) has formally acknowledged a Nasdaq filing to allow staking in BlackRock’s Ethereum ETF. The acknowledgment launches a public consultation into the suitability of the filing as experts eye an approval by the end of the year.
SEC Confirms Staking Filing For BlackRock’s Ethereum ETF
According to an SEC document, the Commission has accepted the filing seeking to introduce staking capabilities on BlackRock’s Ethereum ETF. If approved, the fund will stake all or part of its Ethereum holdings, with rewards given to shareholders.
Flowing from the SEC’s acknowledgement, interested parties have a 21-day window to submit comments on the suitability of the proposed rule change to the securities watchdog. The SEC now has up to 90 days to approve or disapprove the application, or designate a longer time for consideration.
In mid-July, Nasdaq filed to include staking in BlackRock’s Ethereum ETF amid reports of the SEC’s softening stance toward the feature. At the time, Nasdaq argued that the proposed change is consistent with US securities law and will remove impediments while protecting investors. The filing also noted that staking will improve the redemption and creation process and help track returns.
Bloomberg analyst James Seyffart, in an X post, has tipped the SEC to greenlight staking functionality for Ethereum ETFs by the end of the year. However, the timeline for BlackRock’s ETF staking application can drag to April 2026 with the SEC dealing with a flurry of staking amendments.
The Rex-Osprey Solana Staking ETF has added steam to optimism that the SEC will approve staking for funds in the near future. Amid the enthusiasm, Ethereum staking interest has reached a one-year high with treasury companies staking all their ETH holdings.
However, recent moves by the US SEC are pointing to a cautious stance by the regulator. In early July, the SEC delayed staking for the Bitwise Ethereum ETF, dashing hopes of a near-term approval.
While shareholders await the SEC’s decision, BlackRock’s Ethereum ETF is inching toward the 3 million ETH milestone. At press time, Ethereum is trading at $3,771 with a market capitalization of $461 billion.
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