BlackRock has appointed Galaxy Digital as an approved validator for its iShares Staked Ethereum Trust ETF (ETHB). This marks BlackRock's first exchange-traded product designed to earn staking rewards on cryptocurrency.
The ETHB fund, launched last month, aims to replicate the success of BlackRock's Bitcoin ETF. As of April 8, the fund held over $435 million in assets, with $339 million in staked Ether.
The ETF will stake most of its Ether holdings through institutional validators, including Galaxy Digital, Figment, and Attestant. Monthly rewards will be distributed to investors.
Steve Kurz, Global Co-Head of Digital Assets at Galaxy, stated that BlackRock's selection is a testament to Galaxy's demonstrated systems, scale, and accountability. Galaxy's digital infrastructure division managed $5 billion in staked assets across various proof-of-stake networks in 2025.
Robert Mitchnick, head of BlackRock’s digital assets division, noted that staking is a core part of the Ethereum ecosystem and that working with experienced providers like Galaxy enables them to deliver this capability to clients.