Ethereum staking has hit a fresh all-time high, with nearly 30% of the total ETH supply now locked in the network's proof-of-stake system. This surge comes even as broader crypto market liquidity remains selective.
Ether's price has risen 11% year-to-date, gaining more than 5% in the past 24 hours alone amid a broader market rally, which adds fresh momentum to staking activity. Data shows that over 36 million ETH is now staked, representing approximately 30% of the circulating supply and a staked market capitalization of over $118 billion. This breaks the previous record of 29.54% set in July 2025.
The network now boasts approximately 900,000 active validators, with 2.3 million ETH waiting to be added to the system. Meanwhile, the validator exit queue remains at historically low levels, indicating limited selling pressure from existing stakers. While staking is the basis of network security, locking up such a large portion of the supply can reduce liquid supply during periods of increased demand. Lido Finance remains the largest liquid staking provider, commanding a 24% market share.
Recent growth is increasingly driven by institutional players. BitMine Immersion, headed by Tom Lee, has rapidly expanded its position, holding 4.17 million ETH (over 3.45% of the circulating supply) and staking 1.25 million ETH. Exchange-traded products are also reinforcing these flows. Grayscale has begun distributing staking rewards to investors in its Ethereum ETFs, while Morgan Stanley has filed to launch a spot Ethereum ETF with a staking component, signaling that large asset managers view staking as a core part of Ethereum exposure.
