Ethereum staking hits all-time high with almost 30% of ETH supply locked

The amount of ether locked into Ethereum’s proof-of-stake system has climbed to a fresh all-time high amid growing institutional participation, even as broader crypto market liquidity remains selective.

More than 36 million ETH is now staked on Ethereum’s Beacon Chain, accounting for nearly 30% of the network’s circulating supply and a staked market cap of over $118 billion, per The Block's data dashboard. The prior peak of 29.54% was set in July, 2025.

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Ether has risen 11% year-to-date, gaining more than 5% in the past 24 hours alone amid a broader market rally, adding momentum to staking activity.

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Ethereum’s validator set now includes roughly 900,000 active validators, with an additional 2.3 million ETH waiting in the entry queue, The Block’s data dashboard shows. At the same time, the validator exit queue has remained near historic lows, signaling limited selling pressure from existing stakers.

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Staked ether underpins Ethereum’s security model, requiring validators to lock up ETH to propose and attest to blocks. As a larger share of supply becomes illiquid, staking can tighten available float during periods of renewed demand. Liquid staking protocol Lido Finance remains the largest single provider, accounting for about 24% of all staked ETH, per Dune data.

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Institutional weight

Recent growth in the staking sector has increasingly been driven by institutional players.

One of the most active has been BitMine Immersion, the Tom Lee-chaired Ethereum treasury firm, which has rapidly expanded both its ether holdings and staking exposure. BitMine’s total 4.17 million ETH holdings represent more than 3.45% of Ethereum’s circulating supply, over 1.25 million ETH of which are currently staked — nearly double its position from a week earlier, The Block previously reported.

Exchange-traded products have also begun reinforcing staking flows. Grayscale recently started distributing staking rewards to investors in its Ethereum ETFs, marking a shift in how institutional capital engages with onchain yield. That trend could accelerate further. Morgan Stanley recently filed to launch a spot Ethereum ETF with a staking component, signaling that large asset managers increasingly view staking as a core part of Ethereum exposure.