Ethereum has once again grabbed the spotlight in the crypto market, with the amount of ETH staked reaching a new all-time high just as the token price broke above $2,700. This milestone is being viewed as a sign of increasing long-term confidence among holders, especially as institutional interest intensifies.
34.8 Million ETH Now Staked — A Major Milestone
The Ethereum network has witnessed a significant increase in the number of coins being staked on its Beacon Chain. As of Monday, over 34.8 million ETH were staked, representing nearly 30% of Ethereum’s circulating supply. This marks a new record and reflects a growing preference among investors to lock up their assets for passive income rather than sell amid market volatility.
According to Dune Analytics and Ultrasound.Money, Ethereum’s staked supply has grown steadily over the past year, but saw a sharp increase in early June. The current total supply of ETH stands at roughly 120.8 million coins, meaning 28.7% of all Ethereum is now staked—an all-time high that surpasses the previous record set in November 2024.
A Shift in Holder Sentiment
The surge in staking suggests a clear shift in investor behavior. Rather than selling ETH during price rallies, many holders are opting to earn staking rewards, signaling their belief in Ethereum’s long-term value.
On-chain data from Beaconcha.in confirms that staking activity, which had plateaued above 33 million ETH for much of the last year, began to accelerate in June. Experts attribute this trend to the growing institutional accumulation and the looming possibility of regulatory approval for Ethereum staking-based ETFs.
Institutional Interest Builds: ETFs on the Horizon?
One of the key catalysts behind the renewed momentum in Ethereum staking is the increasing chatter around spot Ether ETFs that could include staking features. Analysts believe that these investment products may debut within the next few weeks, pending approval from the U.S. Securities and Exchange Commission (SEC).
ETF provider REX Shares recently filed for a spot ETH ETF that includes staking benefits, utilizing what it called “regulatory workarounds” to offer yield to investors. While the SEC has yet to provide final approval, industry analysts and advocates view the application as a pivotal step forward for mainstream adoption of Ethereum-based financial products.
Adding to the bullish sentiment, BlackRock’s iShares Ethereum Trust (ETHA) has demonstrated strong accumulation behavior. According to data from Farside Investors, ETHA has now seen 23 straight trading days without a single outflow, reflecting robust demand from traditional investors.
ETH Price Climbs to 2-Week High
Alongside the staking milestone, Ethereum’s price saw a sharp increase. On Tuesday, ETH surged by over 8% in a single day, pushing its value to $2,700—the highest level since May 29.
This price point has acted as a key resistance zone, having been tested and rejected four times in the past month. If ETH can decisively break and hold above the $2,700 mark, analysts say it could open the door for another leg up in the rally.
Despite Ethereum’s strong staking growth, its price performance has been relatively moderate over the long term. Over the past two years, staking has grown by 77%, while ETH’s price has increased by approximately 50%. Still, the current price levels reflect growing investor confidence amid a broader shift towards decentralized finance and blockchain-based assets.
Inflationary Supply Returns, Yet Staking Thrives
It’s also worth noting that Ethereum’s supply has returned to an inflationary state as of February, which typically would introduce selling pressure. However, this has not deterred holders from staking. Instead, the opposite appears to be happening: more ETH is being locked away for yield even as new coins are minted.
This counterintuitive behavior could be attributed to the evolving use cases for Ethereum, including Layer 2 scaling solutions, decentralized finance (DeFi) applications, and the potential for institutional-grade staking products.
What’s Next for Ethereum?
The confluence of factors—record-high staking levels, a rebound in ETH price, and growing institutional participation—has put Ethereum in a strong position going into the summer.
If spot ETH ETFs with staking components are approved, the market could see a fresh wave of demand from both retail and institutional investors. This would likely lead to even more ETH being staked, reducing circulating supply and potentially driving prices higher.
Until then, the $2,700 resistance zone remains a critical level to watch. A clear breakout above this range could signal the start of a more sustained rally, while a rejection might lead to consolidation in the $2,500–$2,700 range.
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