Nearly 30% of ETH Supply Now Staked Amid Growing Institutional Interest and ETF Speculation
Ethereum (ETH) staking has reached a new record, with nearly 30% of the circulating supply now locked on the network’s Beacon Chain, signaling increased investor conviction and growing institutional activity. The milestone comes as ETH prices surged past $2,700, hitting a 12-day high.
On Sunday, the total staked Ether reached 34.65 million ETH, surpassing the previous record set on November 10, 2024, according to data from Beaconcha.in. Staking activity has remained consistently above 33 million ETH for the past year but has seen a noticeable uptick since early June.
Staked ETH Now Accounts for 28.7% of Total Supply
A Dune Analytics dashboard confirmed the new record, reporting 34.8 million ETH staked as of Monday, while Ultrasound.Money reported a slightly lower figure of 34.7 million ETH. Based on current supply metrics, approximately 28.7% of Ether’s circulating supply — which stands at 120.8 million ETH — is now staked.
The growing staking trend suggests that long-term holders are opting for yield-generating strategies instead of selling into market volatility.
“A higher staking level indicates that more ETH holders are locking up capital, reducing sell-side pressure and potentially tightening supply,” one analyst noted.
ETH Price Breaks Above Key Resistance at $2,700
On Tuesday, ETH prices surged over 8%, reclaiming the $2,700 mark for the first time since May 29, according to CoinMarketCap. The price jump comes amid renewed market optimism and continued institutional accumulation.
Over the past month, the $2,700 level has served as a strong resistance zone, tested four times. A decisive break above this threshold could pave the way for further upward momentum.
Despite the recent rally, ETH remains below its all-time high of $4,878 set in November 2021. Over the past two years, staked ETH has grown by 77%, while the price has increased by only 50%, reflecting stronger confidence in Ethereum’s long-term staking yields.
Spot ETH ETF Staking on the Horizon?
The record in staked Ether comes as the crypto industry anticipates the potential approval of staking-enabled Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC). Such approval could further boost staking participation and institutional demand.
Recently, ETF provider REX Shares filed a proposal featuring staking through regulatory workarounds, fueling speculation that staking-enabled ETFs could launch in the coming weeks.
In parallel, BlackRock’s iShares Ethereum Trust (ETHA) — the largest ETH ETF — has now reported 23 consecutive trading days without an outflow, signaling strong and consistent buy-side demand, according to Farside Investors.
Ethereum’s Supply Dynamics Are Shifting
Although staking has surged, Ethereum’s overall supply dynamics have shifted in 2024. After a prolonged deflationary period, the network returned to a mildly inflationary state in February, with issuance once again slightly outpacing burn mechanisms introduced by EIP-1559.
Nevertheless, a large portion of ETH remains effectively locked via staking, DeFi applications, and L2 bridge contracts, reducing liquid supply in circulation.
“The combination of reduced liquidity, institutional buying, and staking incentives could create a bullish supply crunch if demand continues to grow,” one Ethereum researcher said.
Miners and Validators Signal Confidence
Beyond retail and institutional investors, validators and node operators have also continued to increase their stake, reflecting growing confidence in Ethereum’s proof-of-stake (PoS) security model and the protocol’s long-term sustainability.
Since Ethereum’s Merge in September 2022, the network has transitioned fully to PoS, eliminating energy-intensive mining and aligning the protocol with broader ESG investment frameworks — a move seen as critical for institutional adoption.
Conclusion
Ethereum has reached a new staking milestone, with nearly 30% of the circulating ETH supply now locked, just as its price breaks above $2,700 for the first time in nearly two weeks. The rise in staked ETH highlights growing investor conviction, particularly among long-term holders seeking yield and exposure to Ethereum’s infrastructure.
As the market awaits potential regulatory green lights for staking-enabled ETFs, and institutional players continue accumulating ETH, all signs point toward Ethereum entering a new phase of network maturity and investor confidence.
Whether ETH can sustain its price rally and eventually test new highs may now depend on macro conditions, regulatory developments, and whether the $2,700 resistance zone finally gives way to broader bullish momentum.
