BlackRock Met with the SEC's Crypto Task Force to Discuss the Regulatory Future of Crypto Staking in ETFs

The U.S. Securities and Exchange Commission’s (SEC) Crypto Task Force had a meeting with BlackRock to discuss the regulatory implications of crypto staking in exchange-traded funds (ETFs) and the potential of tokenized securities, according to a memo released by the SEC on May 9.

The meeting, which took place on April 27, saw the world’s largest asset manager raise points in favor of deeper integration of blockchain into traditional finance.

In the memo, the SEC stated that BlackRock argued that Ethereum ETFs are not complete without staking. Staking allows token holders to earn rewards and help secure proof-of-stake networks like Ethereum and Solana.

“Without the ability to stake, U.S. ETF investors are unable to fully realize the economic and legal implications of those tokens,” the SEC said.

The asset manager also discussed the implications of tokenized securities, highlighting the potential for faster settlements, lower fees, and 24/7 trading compared to traditional assets.

The SEC is yet to approve any ETF that enables staking, despite the presence of such products in Canada and Europe. More than 70 crypto ETF applications are currently pending approval with the SEC.

Earlier this year, the New York Stock Exchange filed a rule change to support staking in Grayscale’s Ethereum ETF. The SEC has postponed decisions on this matter.

Earlier this year, the New York Stock Exchange filed a rule change to support staking in Grayscale’s Ethereum ETF. The SEC has postponed decisions on this matter.

Other financial firms are also pushing for staking features in ETFs. Earlier this year, the New York Stock Exchange filed a rule change to support staking in Grayscale's Ethereum ETF. However, the SEC has delayed decisions on this issue.

The SEC’s approval could pave the way for ETFs with staking capabilities across major blockchains.

The SEC is also focused on the implications of tokenized assets. In the meeting with BlackRock, the agency noted the asset manager’s BUIDL fund, which focuses on tokenized U.S. Treasury notes.

Launched in 2023, BUIDL has reached $2.9 billion in assets under management (AUM), making it the largest tokenized fixed-income fund. Meanwhile, BlackRock is also known for iBIT, its spot Bitcoin ETF that began trading in August 2025.

iBIT has become the sixth most popular ETF in 2025 based on inflows, attracting $6.96 billion in new capital. This surpasses the SPDR Gold Trust (GLD) ETF. Despite a recent decline in Bitcoin’s price, investors appear to have long-term confidence in the crypto.

At the meeting with the SEC, BlackRock also discussed the development of tokenized assets at its MiFID II subsidiary in Europe.

The asset manager is exploring the tokenization of U.S. stocks and bonds, which could be traded 24/7 in Europe. This initiative is part of broader efforts by financial institutions to introduce tokenized assets.

Franklin Templeton is engaged in developing a tokenized money market fund, while Robinhood is working on a blockchain that may allow European users to trade U.S. stocks in a tokenized format.