A team from the U.S. Securities and Exchange Commission (SEC) staff met with representatives of BlackRock, the world’s largest asset management firm, to discuss staking and options related to cryptocurrency exchange-traded funds (ETFs), according to a memorandum.
The meeting, which took place on May 9, 2025, aimed to address regulatory approaches to crypto assets, as firms have been seeking the SEC’s approval to allow staking for crypto ETFs in recent months.
What was the meeting about?
The SEC staff discussed with BlackRock’s representatives the considerations for enabling exchange-traded products (ETPs) with staking capabilities, the parameters for determining positions and exercise limits for options on crypto ETFs and the general standards for approving crypto ETFs, according to the filing.
Why did the SEC choose BlackRock for the meeting?
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In the first quarter of 2025, BlackRock’s iShares Bitcoin Trust (IBIT), the first spot cryptocurrency ETF approved by the SEC, and one that includes exposure to both Bitcoin and Ethereum, experienced a notable success.
The IBIT marked a notable performance, reflecting both the volatility of the cryptocurrency market and the firm’s strategic positioning and despite a challenging market environment, IBIT reported $3 billion in net inflows.
Despite these headwinds, the ETF maintained investor interest, evidenced by a 19-day consecutive inflow streak totaling $356.2 million as of May 9, 2025 . According to Coindesk, placing itself as the godfather of the U.S. ETFs.
Why is the U.S. market optimistic about these talks?
Crypto investors appear optimistic about the U.S. President Donald Trump’s decision to appoint Paul Atkins as Chair of SEC, a figure known for his crypto-friendly stance, and his announcement of plans to work with lawmakers to establish a supportive regulatory framework for the industry.
Trump’s decision came after a challenging period under former SEC Chair Gary Gensler, who described the sector as “rife with fraud and manipulation,” and during his tenure, the SEC filed several cases against major crypto firms, many of which were dropped after his departure in January.
