Key Metrics and Market Trends
More than 36 million Ethereum is now staked on Ethereum's Beacon Chain, representing nearly 30% of the network's circulating supply. This figure surpasses the previous peak of 29.54% that was set in July 2025. The staked market capitalization now exceeds $118 billion, with institutional participation being a significant driver of growth within the proof-of-stake system.
Ethereum has experienced a year-to-date gain of 11%, with more than 5% of that increase occurring in the past 24 hours, coinciding with a broader market rally. This positive price momentum has contributed to increased staking activity, as validators lock up their tokens to help secure the network. Ethereum's validator set currently comprises approximately 900,000 active validators, with an additional 2.3 million Ethereum tokens awaiting activation in the entry queue.
Validator Exit Queue and Supply Dynamics
The validator exit queue has consistently remained near historic lows. This trend indicates limited selling pressure from existing stakers. Staked Ether is fundamental to Ethereum's security model, requiring validators to lock up Ethereum to propose and attest to blocks. As the supply of liquid Ether decreases, staking can lead to a tighter available float during periods of renewed demand.
Lido Finance and Institutional Adoption
According to Dune data, the liquid staking protocol Lido Finance accounts for approximately 24% of all staked Ethereum, maintaining its position as the largest single provider. Recent growth in institutional participation has increasingly fueled the expansion of the staking sector. BitMine Immersion, an Ethereum treasury firm chaired by Tom Lee, has rapidly increased both its holdings and its staking exposure.
BitMine's total holdings of 4.17 million Ethereum represent more than 3.45% of Ethereum's circulating supply. Currently, over 1.25 million Ethereum are staked by the firm, which is nearly double its position from the previous week. This acceleration highlights the growing corporate interest in generating on-chain yields through validator operations.
Exchange-Traded Products and Future Trends
Exchange-traded products are beginning to reinforce staking flows as institutional capital engages with on-chain yield opportunities. Grayscale recently commenced distributing staking rewards to investors in its Ethereum ETFs, signifying a change in how asset managers are approaching the network. Morgan Stanley has filed to launch a spot Ethereum ETF that includes a staking component, indicating that major financial institutions increasingly consider staking essential for Ethereum exposure.
This trend is likely to accelerate as more players from traditional finance seek out crypto products that offer yield. Staking provides rewards to validators for securing the network, while token holders earn returns on their locked assets. As a larger portion of the supply is locked in staking contracts, the available float for trading diminishes, which could potentially influence price dynamics during periods of increased demand.