Ethereum staking is increasingly becoming the preferred strategy for large holders, including corporations and significant individual investors. This surge in staking activity is directly correlated with the overall expansion of the Ethereum ecosystem. Furthermore, the advent of liquid staking tokens offers holders the dual benefit of retaining ownership of their ETH while simultaneously possessing a liquid counterpart for other financial operations.
Staking activity experienced a notable acceleration in January, culminating in new all-time highs for total staked ETH. Currently, approximately 36 million ETH are staked, representing over 30% of the total circulating supply.
While the rate of staking growth has moderated, it continues to be driven by substantial deposits from large wallets, exchange-traded funds (ETFs), corporate treasuries, and decentralized finance (DeFi) whales. Binance's liquid staking services have also emerged as a considerable contributor to ETH staking volumes.
The total value of staked ETH exceeds $118 billion at current market prices. The majority of this staked supply is expected to remain off the open market. Any attempts to withdraw staked ETH have led to extended waiting periods, currently up to 48 days, making a mass exodus of stakers improbable. In most instances, observed outflows are primarily for wallet consolidation purposes.
Ethereum Validators Deposit Another 2.3 Million ETH
The Ethereum staking landscape witnessed a significant shift in the past month, characterized by a cessation of large withdrawal waves as major holders consolidated their staked positions. This period saw a notable increase in deposits.
As of the close of 2025, the queue for entering staking deposits once again surpassed the queue for exiting staked assets. The entry queue is now at its highest level since 2023, with over 2.34 million ETH awaiting validation and entry into the staking contract.
Staking is recognized as one of the most effective methods for removing ETH from active circulation, surpassing even the impact of treasury purchases by companies. Currently, the validator exit queue is virtually empty, indicating minimal interest in unstaking ETH.
Staking rewards continue to offer an annual percentage rate (APR) of approximately 2.82%, typically distributed among the leading validators. While the return rate experiences minor fluctuations, it generally remains within this range. For staked corporate treasuries, these returns can be substantial.
Bitmine Becomes a Major Source of Staking Deposits
Bitmine currently holds approximately 3.6% of the total ETH supply and aims to increase this to 5%. The company initiated its ETH staking program in late 2025.
In the preceding day, Bitmine staked an additional 186,650 ETH, valued at over $624.8 million. Bitmine plans to conduct its ETH staking through the MAVAN validator, a move intended to enhance security. Consequently, the treasury firm anticipates generating up to $500 million annually in passive rewards from its staking activities.
Ethereum's supply dynamics have shifted, with the total supply increasing to 121,371,617 tokens over the past year, adding approximately 1.3 million new ETH. A significant portion of this newly added supply is being absorbed by staking operations and accumulation within holding addresses. Over 25.8 million ETH are currently held in accumulation addresses, effectively removing a substantial amount of ETH from the market.