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The iShares Staked Ethereum Trust ETF, sponsored by iShares Delaware Trust Sponsor LLC, is filing an S-1/A registration statement dated March 6, 2026, to register securities for public offering. The trust engages Coinbase, Inc. via the ETH Staking Addendum to the Coinbase Prime Broker Agreement for staking ETH digital assets held in the Vault Account with Approved Validators. Coinbase conducts annual reviews of validators, manages third-party risks, pursues claims for breaches, and charges a Staking Fee of 10% of rewards, reducing to 6% upon Client’s staked assets reaching $20 billion. Client retains ownership of staked assets and net rewards, with Coinbase acting as securities intermediary. The addendum outlines no liability for validator slashing penalties or protocol failures, subject to Coinbase PBA standards. Signatures from BlackRock Fund Advisors (acting for Client) and Coinbase dated February 20, 2026, indicate preparation for large-scale ETH staking operations supporting the ETF's investment strategy. No specific financials, offering size, or proceeds use are disclosed in the provided content.
iShares Staked Ethereum Trust ETF utilizes Coinbase for ETH staking services through Approved Validators under the ETH Staking Addendum to Coinbase PBA.