BlackRock Portfolio Management LLC reports beneficial ownership of 4,000,000 shares of iShares Staked Ethereum Trust ETF Common Stock as of 03/31/2026, representing 26.5% of the class. The filing lists sole voting and dispositive power over the 4,000,000 shares and notes an affiliated holder exceeding 5%.
Positive
None.
Negative
None.
Insights
Large passive stake reported with sole voting and dispositive control.
BlackRock Portfolio Management LLC declares beneficial ownership of 4,000,000 shares (26.5%), with sole voting and dispositive power recorded on the schedule. The filing follows Schedule 13G presentation norms for institutional investors and identifies an affiliated >5% interest.
Implications center on disclosure and stewardship obligations; subsequent filings may clarify whether this stake remains passive or shifts to active status.
Position size creates a meaningful ownership stake in ETF class.
The reported 26.5% ownership is a sizable percentage of the outstanding common stock as stated. The schedule ties control to specific powers: sole voting and sole dispositive power for 4,000,000 shares.
Monitoring additional amendments or related Form 13D filings would show any change in intent or control.
Key Figures
Shares beneficially owned:4,000,000 sharesPercent of class:26.5%Report date / as of:03/31/2026+1 more
4 metrics
Shares beneficially owned4,000,000 sharesAmount beneficially owned as reported on Schedule 13G
Percent of class26.5%Percent of common stock outstanding as reported
Report date / as of03/31/2026Reporting date shown on the cover page
CUSIP46438M106CUSIP number for the Common Stock class
Key Terms
Schedule 13G, beneficially owned, Investment Company Act
3 terms
Schedule 13Gregulatory
"In accordance with SEC Release No. 34-39538 (January 12, 1998), this reflects the securities beneficially owned"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
beneficially ownedfinancial
"Amount beneficially owned: 4000000 (b) Percent of class: 26.5 %"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Investment Company Actregulatory
"A listing of the shareholders of an investment company registered under the Investment Company Act of 1940"
The Investment Company Act is a law that sets rules for businesses whose main activity is managing and selling pooled money, such as mutual funds and other investment funds. It matters to investors because it requires clear reporting, limits managers from putting their own interests ahead of clients, and mandates safekeeping and oversight of assets—similar to safety inspections and traffic rules that help keep shared vehicles reliable and trustworthy.
What stake does BlackRock Portfolio Management LLC hold in ETHB?
BlackRock holds 4,000,000 shares, equal to 26.5% of the class as reported. The Schedule 13G lists sole voting and dispositive power over those shares and names an affiliated >5% holder.
What does Schedule 13G filing indicate about investor intent for ETHB?
A Schedule 13G filing generally signals an institutional, passive position rather than an activist approach. This filing reports beneficial ownership and control powers but does not itself state activist intent or plans.
Does BlackRock control voting for the reported ETHB shares?
Yes; the filing records sole power to vote for 4,000,000 shares. It also records sole dispositive power, indicating BlackRock can direct voting and disposition per the schedule.
Is any other BlackRock affiliate named as holding more than 5% of ETHB?
The filing identifies an affiliated interest: BlackRock Financial Management, Inc.- MTM - Consol holds more than 5% of the common stock. The Schedule 13G lists this related party in Item 6.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
iShares Staked Ethereum Trust ETF
(Name of Issuer)
Common Stock
(Title of Class of Securities)
46438M106
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
46438M106
1
Names of Reporting Persons
BlackRock Portfolio Management LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
4,000,000.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
4,000,000.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,000,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
26.5 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
iShares Staked Ethereum Trust ETF
(b)
Address of issuer's principal executive offices:
c/o iShares Delaware Trust Sponsor LLC 400 Howard Street SAN FRANCISCO CA 94105
Item 2.
(a)
Name of person filing:
BlackRock Portfolio Management LLC
In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)
Address or principal business office or, if none, residence:
BlackRock Portfolio Management LLC, 50 Hudson Yards New York, NY 10001
(c)
Citizenship:
See Item 4 of Cover Page
(d)
Title of class of securities:
Common Stock
(e)
CUSIP Number(s):
46438M106
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
4000000
(b)
Percent of class:
26.5 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
4000000
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
4000000
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The interest of 1 such person, BlackRock Financial Management, Inc.- MTM - Consol, in the common stock of iShares Staked Ethereum Trust ETF is more than five percent of the total outstanding common stock.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See Exhibit 99
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
