Étienne Girard
BlackRock, the world’s largest asset management company, has entered discussions with the U.S. Securities and Exchange Commission (SEC) to explore the possibility of enabling staking and options trading for cryptocurrency ETFs, according to a recently published memo.
The meeting, held on Friday, brought together BlackRock executives and members of the SEC’s crypto task force to examine new regulatory approaches to digital assets.
“Discussions focused on tackling the complexities of crypto regulation,” the memo stated, emphasizing the need for tailored frameworks as the crypto ETF market matures.
Ethereum ETF Staking in the Spotlight
Over recent months, several financial institutions have been lobbying for permission to incorporate staking mechanisms into spot Ethereum ETFs. In a March statement, Robert Mitchnick, Head of Digital Assets at BlackRock, highlighted that staking could represent a “transformational leap” for the ETF landscape—though he acknowledged the presence of significant regulatory hurdles.
Mitchnick, who attended Friday’s meeting, reiterated the firm’s interest in enabling staking capabilities within approved Ethereum ETF structures.
Options, Liquidity, and ETF Infrastructure
BlackRock also presented proposals regarding liquidity thresholds, exercise limits, and position sizing for options on crypto-based ETFs. These elements are crucial for building a compliant and efficient trading environment, the firm noted in its filing.
The SEC has already greenlit options trading for spot Ethereum ETFs, including those issued by BlackRock, Grayscale, and Bitwise, signaling a broader shift in the agency’s approach.
Regulatory Landscape Is Shifting
Beyond the specifics of ETF design, BlackRock’s representatives also addressed general standards for crypto ETF approval, pointing to the need for clear and consistent guidelines.
The SEC’s crypto division has been actively engaging with industry players, reflecting a more open regulatory stance compared to previous years. Under former Chair Gary Gensler, the SEC took an aggressive position on crypto enforcement, citing the industry’s history of fraud and manipulation. However, many enforcement actions were either reversed or dismissed after his departure in January.
Now, with Chair Paul Atkins—appointed by President Donald Trump—at the helm, expectations are shifting. Atkins has expressed optimism about blockchain innovation and is committed to building a regulatory environment that encourages responsible digital asset growth.
Upcoming Roundtable to Address Tokenization
The SEC’s crypto task force, currently led by Republican Commissioner Hester Peirce, will hold its fourth public roundtable this Monday, with a focus on tokenization and broader digital asset infrastructure.
