Key Takeaways
- Galaxy Digital has been selected as an approved validator for BlackRock’s ETHB staked Ethereum ETF.
- The ETHB fund managed over $435 million in total assets as of April 8, including $339 million in staked holdings.
- The majority of ETH within ETHB is staked using validators including Figment, Attestant, and Galaxy.
- Monthly staking reward distributions are provided to ETHB investors through the fund’s structure.
- Galaxy Digital reported $5 billion in staked assets by the end of 2025 spanning Ethereum, Solana, and additional networks.
The world’s largest asset manager has designated Galaxy Digital as a validator for its iShares Staked Ethereum Trust ETF. This selection broadens Galaxy’s involvement in enterprise-level Ethereum staking while advancing BlackRock’s strategy for yield-bearing cryptocurrency investment vehicles.
ETHB, as the fund is commonly called, debuted last month as BlackRock’s inaugural crypto exchange-traded product designed to generate staking yields. Galaxy now stands alongside Figment and Attestant as authorized validators managing the fund’s staked Ethereum assets.
ETHB validator network grows with Galaxy addition
In a Thursday announcement, BlackRock disclosed Galaxy Digital’s approval as a validator for its ETHB fund. The exchange-traded product holds Ether while generating staking returns, offering investors regulated access to Ethereum yield within a traditional fund framework.
ETHB’s assets under management surpassed $435 million as of April 8. Approximately $339 million of those holdings consisted of staked Ether. The fund stakes the bulk of its Ethereum through enterprise-grade validation providers.
Figment, Attestant, and Galaxy now comprise the validator roster. According to BlackRock, staking proceeds are paid out to fund investors monthly. This structure enables participants to capture staking yields while avoiding direct cryptocurrency custody.
The Ethereum product represents another milestone in BlackRock’s digital asset expansion. Following the success of its Bitcoin ETF launch in 2024, which quickly became a leading crypto fund, ETHB introduces yield generation to the firm’s crypto product lineup.
Galaxy expands institutional staking footprint
Galaxy Digital characterized the BlackRock selection as validation of its staking infrastructure capabilities. The company has developed validator operations designed for institutional clients requiring both scale and regulatory compliance. This appointment integrates Galaxy into one of the world’s largest asset managers’ cryptocurrency offerings.
Steve Kurz, Global Co-Head of Digital Assets at Galaxy, stated, “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.” He continued, “That trust is something we’ve earned over years of building.”
By the conclusion of 2025, Galaxy’s digital infrastructure arm had accumulated $5 billion in staked assets. These holdings spanned Ethereum, Solana, and additional proof-of-stake blockchain networks. The total underscores Galaxy’s expanding position in blockchain validation operations.
Galaxy also broadened its custody partnerships throughout 2025. The firm finalized integrations with BitGo, Zodia Custody, Fireblocks, and Coinbase Prime. These connections serve institutional clients requiring combined custody and staking capabilities through trusted service providers.
Both firms expand blockchain infrastructure services
BlackRock positioned staking as fundamental to Ethereum’s architecture. The investment manager emphasized that seasoned validators are essential to maintaining the ETF’s operational framework and quality standards. The company indicated that staking functionality will continue serving as a primary feature of ETHB’s value proposition.
Robert Mitchnick, who oversees BlackRock’s digital assets business, commented, “Staking is a core component of the Ethereum ecosystem and we are excited to enable this capability for investors in ETHB.” He noted, “Working with experienced providers helps us deliver that capability within the structure and standards our clients expect.”
Meanwhile, Galaxy has enhanced its direct client offerings. The company recently introduced staking functionality on its GalaxyOne platform. This service enables clients to generate staking rewards while avoiding platform commission fees.
Galaxy is also developing additional blockchain-based institutional services. The company is collaborating with Broadridge on implementing blockchain-powered proxy voting systems on Avalanche. This initiative demonstrates Galaxy’s commitment to expanding beyond validation services into broader blockchain infrastructure solutions.
