iShares applies to list a pledgeable Ethereum spot ETF ETHB, intended to trade on Nasdaq

The U.S. SEC filing shows that BlackRock's iShares has submitted a revised S-1 to launch the "iShares Staked Ethereum Trust ETF" (ticker ETHB), which will be listed on NASDAQ.

This trust is a statutory trust under Texas law, primarily holding ETH, and will participate in Ethereum staking through third-party nodes like Coinbase, with approximately 70%–95% of its assets, without affecting its tax qualification as a grantor trust, to earn staking rewards.

The product adopts a mechanism of 40,000 shares for creation and redemption, supporting cash or physical ETH redemptions, with only authorized participants allowed to directly create and redeem with the trust. The base fee rate is an annualized 0.25%, reduced to 0.12% for the first $2.5 billion in assets during the first 12 months after listing. The trust is expected to continuously issue shares under controlled risk conditions.