Crypto: ETH staking reaches unprecedented levels

A silent revolution is underway on Ethereum. The network has reached a major milestone with 36.6 million ETH staked, representing 30% of the total supply. Giants like Bitmine and BlackRock are accumulating and locking their positions, radically transforming the crypto market structure.

The explosion of institutional staking reshapes the Ethereum landscape

Ethereum has just crossed a decisive milestone. According to Validator Queue’s on-chain data released at the end of January, 36.6 million ETH are now staked, marking the first time that the 30% threshold of the total supply has been exceeded.

This spectacular growth has been accelerating for several months, driven by an unprecedented wave of institutional adoption.

Bitmine perfectly illustrates this trend. Tom Lee’s company recently added 250,912 ETH to its staked positions, worth 745 million dollars. Its total now reaches 2.58 million ETH locked, about 61% of its total Ethereum holdings. These figures demonstrate massive confidence in the network’s long-term prospects.

The timing of this explosion is no coincidence. It coincides with the deployment of Lido V3 on the Ethereum mainnet. This new version introduces stVaults, isolated staking environments allowing teams to execute customized validator configurations. Institutions can thus adapt their staking strategy while benefiting from Lido’s liquidity and DeFi integrations.

ETFs also play a major role in this dynamic. BlackRock recently registered its “iShares Staked Ethereum Trust” in Delaware, a regulatory first step before an official filing with the SEC. 

With an average annual yield of 3.95%, these products combine exposure to the ETH price and passive income generation. Grayscale and REX-Osprey have already received authorization to include staking in their Ethereum ETFs, paving the way for other players.

Between enhanced security and liquidity concerns

This rise in staking undeniably strengthens the security of the Ethereum network. The more ETH staked, the higher the cost of a potential attack.

Queue mechanisms regulate validator entries and exits, adding validators progressively every 6.4 minutes. This controlled approach avoids sudden shocks that could destabilize the consensus.

Vitalik Buterin recently emphasized the importance of these withdrawal delays. They act as protection against mass withdrawals that could weaken security. The exit queue processes requests block by block, turning what could look like a “rush to exit” into a controlled flow. About 2.45 million ETH were effectively waiting in the exit queue in early November 2025, with 1.5 million ETH waiting to enter.

However, this growing lock-up raises legitimate questions. With nearly one-third of the total supply locked, the liquidity available in the markets is mechanically reduced. 

Investors favoring native staking accept giving up the flexibility of liquid staking tokens like stETH. They retain full control of their keys but face prolonged withdrawal times and the risk of slashing in case of validator misbehavior.

Yet institutions seem convinced. They view Ethereum as the ideal infrastructure for tokenized finance. Most stablecoins, tokenized assets, and institution-grade smart contracts operate on this blockchain.

In short, crossing the 30% threshold of ETH staked marks a radical transformation of the Ethereum network. Between increased security, passive yields, and massive institutional involvement, this movement redefines market balances. It remains to be seen whether this confidence will translate into the anticipated price rise or if liquidity constraints will eventually weigh on the most exposed actors.