BlackRock filed a Delaware name registration for the iShares Staked Ethereum Trust ETF, marking an early but significant step in launching a new exchange-traded fund (ETF) focused on staked Ethereum (ETH).
This filing, handled by Daniel Schweiger—a BlackRock managing director who previously registered the firm’s iShares Ethereum Trust (ETHA) in late 2023—signals preparation for a formal Securities Act of 1933 (Form S-1) submission to the U.S. Securities and Exchange Commission (SEC).
Bloomberg ETF analyst Eric Balchunas noted that a full filing is “coming soon.” Unlike BlackRock’s existing ETHA ETF launched in July 2024 with over $11.5 billion in assets, this new product would allow investors to earn staking rewards—typically 3-5% annually—on top of ETH price exposure. Staking involves locking ETH to secure the Ethereum network and validate transactions.
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Delaware Registration Process: Such filings are a standard preliminary action for new ETFs, creating a statutory trust entity. They often precede SEC applications by weeks or months and have reliably predicted launches for crypto products like spot Bitcoin and Ethereum ETFs.
This comes amid evolving SEC rules. Nasdaq submitted a 19b-4 filing in July 2025 to add staking to ETHA, but recent changes eliminated the need for product-specific 19b-4 approvals under new generic listing standards for crypto ETPs. BlackRock’s Head of Digital Assets, Robert Mitchnick, has called ETH ETF staking “the next phase” of development.
BlackRock is joining a wave of issuers racing to offer staked ETH products. This competition could drive more institutional inflows into Ethereum, building on the $13+ billion BlackRock has already attracted to ETHA.
ETH prices hovered around $2,800, up slightly amid broader market optimism, though no immediate surge tied directly to this filing. Investors should watch for the S-1 filing, expected imminently, and SEC feedback on staking mechanics.
Nvidia’s Q3 Earnings Ignite Rally in Bitcoin Mining Stocks
Nvidia’s fiscal Q3 2026 earnings, released after market close, delivered a resounding beat on both revenue and earnings per share, while guidance for Q4 exceeded analyst expectations.
This performance alleviated mounting concerns over an “AI bubble” and sparked a broad tech rebound, with Nvidia’s own shares surging 2.85% to $184.66 in after-hours trading. The ripple effects extended to bitcoin mining companies increasingly pivoting to AI and high-performance computing (HPC) infrastructure, as their power-secured data centers align perfectly with surging demand for GPU-heavy AI workloads.
$57.01 billion up 62% YoY, beating estimates of $54.92–$55.19 billion. EPS: $1.30 adjusted vs. $1.25–$1.26 expected. Q4 Guidance: $65 billion in sales vs. $61.66 billion forecast, driven by data center revenue hitting a record $51 billion up 66% YoY.
Jensen Huang dismissed AI bubble fears, emphasizing “AI is going everywhere, doing everything, all at once.” CFO Colette Kress noted the company is on track for $500 billion in AI chip orders through 2025–2026, with potential for more.
The results boosted bitcoin prices from sub-$89,000 to around $91,000, while miners’ stocks—many now retrofitting facilities for Nvidia H100/Blackwell GPUs—saw sharp after-hours gains. This reflects their strategic shift: bitcoin mining’s energy-intensive infrastructure is being repurposed for AI hosting, with deals like IREN’s $9.7 billion Microsoft contract and Cipher’s $5.5 billion AWS pact underscoring the trend.
After-Hours Stock Performance
Bitcoin miners led the charge, acting as “leveraged beta” plays on Nvidia’s dominance amid power constraints for AI data centers. Here’s a snapshot of key movers after-hours/pre-market as of November 20, 2025.
Up >10x YTD (+215%); AI hosting deal with AWS/Fluidstack. Up >10x YTD (+367%); $9.7B Microsoft AI cloud deal for GB300 GPUs. Multi-year AI leases; 360 MW capacity. Focused on efficient, renewable-powered ops.
These gains followed a brutal selloff last week, where the sector shed billions amid AI skepticism and debt concerns like IREN -35%, CIFR -30%. Nvidia’s beat has restored momentum, with analysts viewing miners as undervalued AI enablers—faster to scale than building new power plants.
Miners like IREN and Cipher control vast, low-cost power assets ideal for Nvidia’s power-hungry chips. They’ve paused BTC expansion to prioritize AI, with IREN’s AI cloud revenue up 33% QoQ in Q3 2025. AI infrastructure spend could hit $3–4 trillion annually by decade’s end; miners offer “plug-and-play” capacity to hyperscalers like Microsoft and Google.
High debt loads and volatility remain. Earnings volatility from BTC prices could pressure pure miners, but AI deals provide revenue stability. This rally validates the hybrid model: bitcoin as a hedge, AI as the growth engine.
With Nvidia signaling sustained demand, these stocks could extend gains if Q4 delivers—watch for updates on GPU deployments and hyperscaler contracts.