Can I run an underground wire to a shed on blocks?
Yes, the national electric code allows wiring in structures like your shed.
If you plan on using UF wire for the run buried 24” deep you need to bring the wire up in conduit so the wire is protected.
If you run conduit, the conduit only has to be buried 18” for PVC.
If you run rigid or intermediate metal it can be buried 6”.
Burial depths are listed in the NEC 300.5.
With the conduit option, we normally pull thhn as it is dual rated as thwn. (Conduit in ground is considered a wet location.) You would not want to pull UF wire in conduit, and Romex or NMB is not allowed.
You might consider aluminum wire at that distance for the feeder depending on what your load is.
Anything more than a 20 amp multiwire branch circuit will require a panel in the shed. There are very small panels that will provide 4-6 circuits but these may be undersized: if you want lights on 1 circuit, outlets a second circuit, possibly a welder or air compressor a double pole circuit... and you are out of room for breakers. So it ends up being better to go with a larger panel (100 amp 20+ circuits). The cost will be close to the same as the smaller panel but you can feed it with 60 or 40; that is fine.
Remember your receptacles in your shed require GFCI protection--even light circuits in the ceiling--if plugs are used. However, lighting circuits that are hard-wired do not require GFCI protection.
With more information, we can help with the wire size or provide additional information.