BlackRock Adds Galaxy Digital to ETHB Validator Lineup

TLDR

• BlackRock appointed Galaxy Digital as an approved validator for its iShares Staked Ethereum Trust ETF, ETHB.
• ETHB held more than $435 million in assets under management as of April 8.
• The fund had staked $339 million in Ether through institutional validators, including Figment, Attestant, and Galaxy.
• Galaxy ended 2025 with $5 billion in staked assets across Ethereum, Solana, and other proof-of-stake networks.
• BlackRock said ETHB will distribute staking rewards to investors on a monthly basis.

BlackRock has appointed Galaxy Digital as a validator for its iShares Staked Ethereum Trust ETF, ETHB. The move adds Galaxy to the fund’s validator roster after ETHB launched last month. BlackRock will distribute monthly staking rewards directly to investors through the ETF structure.

BlackRock Expands ETHB Validator Lineup

As of April 8, ETHB held more than $435 million in assets under management. The fund had also staked $339 million in Ether across approved institutional validators.

BlackRock selected Figment, Attestant, and Galaxy to stake most of the fund’s Ether. The company said those providers support the operational standards required for the product for BlackRock.

Kurz serves as Galaxy’s global co-head of digital assets. His statement appeared in Thursday’s press release announcing Galaxy’s validator role for ETHB for the BlackRock fund.

BlackRock’s Bitcoin ETF remains one of the largest digital asset funds launched globally since 2024. ETHB now follows that expansion with a product built to generate staking income for shareholders.

Galaxy Builds out Institutional Staking Services

Galaxy ended 2025 with $5 billion in staked assets across Ethereum, Solana, and other networks. Its digital infrastructure unit manages validation services for several proof-of-stake blockchains and related infrastructure.

During 2025, Galaxy completed custodial integrations with BitGo, Zodia Custody, Fireblocks, and Coinbase Prime. Those links expanded access for institutions using Galaxy’s staking and digital asset services across major custody channels.

Galaxy also became the development company behind Liquid Collective, an institutional liquid staking protocol. The protocol targets clients seeking yield and liquidity at the same time for institutions.

Robert Mitchnick said staking is “a core component” of Ethereum and ETHB investor access. He leads BlackRock’s digital assets division.

Mitchnick added that experienced providers help BlackRock meet the structure and standards clients expect. BlackRock included that comment in the announcement.

Galaxy recently launched staking on GalaxyOne, its platform for institutional clients and counterparties. The company said clients can earn yield there without platform commissions.

Galaxy has also advanced proxy voting on blockchain through a partnership with Broadridge. That work uses the Avalanche network for on-chain corporate governance functions and shareholder voting.

The partnership extends Galaxy’s institutional blockchain services beyond validation and staking. Broadridge and Galaxy announced the effort separately earlier this year.

ETHB launched last month as BlackRock’s first crypto exchange-traded product with staking rewards. Galaxy now joins its approved staking validators.

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