Galaxy Digital has been named an approved validator for BlackRock’s iShares Staked Ethereum Trust (ETHB), BlackRock’s first exchange-traded product built to generate staking rewards, the firms said in a Thursday release.
Launched last month, ETHB aims to replicate the momentum of BlackRock’s Bitcoin ETF, which became one of the top-performing digital asset funds after its 2024 debut. As of April 8, the fund reported over $435 million in assets under management, including roughly $339 million of staked Ether.
The ETF will route most of its Ether to institutional validators. Figment, Attestant and Galaxy are among the approved providers that will operate the staking infrastructure, with staking rewards passed through to ETF holders on a monthly basis.
“When a firm like BlackRock selects you as a validator, it’s because you’ve demonstrated the systems, the scale, and the accountability they require,” said Steve Kurz, Global Co-Head of Digital Assets at Galaxy. “That trust is something we’ve earned over years of building.”
Galaxy said its digital infrastructure unit finished 2025 overseeing about $5 billion in staked assets across Ethereum, Solana and other proof-of-stake networks. In 2025 the firm completed custodial integrations with BitGo, Zodia Custody, Fireblocks and Coinbase Prime, and launched Liquid Collective, an enterprise-grade liquid staking protocol aimed at institutional users seeking both yield and liquidity.
“Staking is a core component of the Ethereum ecosystem and we are excited to enable this capability for investors in ETHB,” said Robert Mitchnick, head of BlackRock’s digital assets division. “Working with experienced providers helps us deliver that capability within the structure and standards our clients expect.”
Galaxy recently added staking services to its GalaxyOne platform, enabling clients to earn yield without platform commissions. The company is also broadening its institutional on-chain offerings beyond validation, including work on blockchain-based proxy voting with Broadridge on the Avalanche network.
Disclosure: This article was edited by Vivian Nguyen. For additional details on our editorial processes, see our Editorial Policy.