Ethereum News Today: Ethereum Staking, ETFs, and Treasuries: The "Global Ledger" Rises

ETH Rallied 3,900% Last Cycle: With Institutional Demand Rising, Could History Repeat Itself?

Ethereum is experiencing a confluence of factors that may redefine its valuation and utility within the broader financial ecosystem. On-chain staking, the approval of spot ETFs, and the inclusion of ETH in corporate treasuries are reinforcing Ethereum's transition from a speculative token to a foundational asset in global digital finance. These developments suggest a convergence that could mirror the explosive growth seen in previous cycles, potentially leading to another significant price rally.

Staking activity has surged since the Shanghai upgrade in April 2023, which enabled withdrawals and removed a major exit bottleneck. Staked ETH now exceeds 33.8 million, or approximately $140 billion at current prices, representing over 25% of the total supply. This increase has established an on-chain "risk-free rate" of 3%–5%, which is being increasingly treated as an analog to U.S. Treasuries by some institutional investors. The staking yield has gained renewed relative appeal as global central banks, particularly the Federal Reserve, enter a rate-cutting cycle in 2025 [1].

Despite recent short-term countertrends—such as a surge in validator exit requests and a backlog in withdrawal processing—the long-term trajectory remains intact. Staking has also given rise to restaking protocols like EigenLayer, which have attracted over $10 billion in ETH. These protocols create a chain of value where staking yields support protocol security, further cementing ETH's role as foundational collateral in the Web3 financial system [1].

The approval of spot ETH ETFs in May 2024 marked a significant milestone for Ethereum's institutional adoption. These ETFs offer a regulated, compliant on-ramp for traditional capital, reducing audit and accounting complexities for large investors. As of the latest data, U.S. spot ETH ETFs hold over $27 billion in net assets, representing roughly 5.3% of the ETH market cap. A notable shift occurred on August 11, 2025, when net inflows exceeded $1 billion for the first time. BlackRock’s ETHA and Fidelity’s FETH accounted for the majority of these inflows, signaling a decisive turn toward institutional-grade adoption [1].

The growing presence of ETH in U.S. corporate treasuries is another key development. More public companies are allocating Ethereum as part of their strategic reserve management, moving beyond symbolic investments to large-scale, purpose-driven holdings. Companies like Cosmos Health have announced structured agreements for ETH purchases, with custodial and staking infrastructure provided by established firms like BitGo Trust. Unlike ETF exposure, direct treasury allocations enable Ethereum to function as a working asset, facilitating diversification, cross-border settlement, and even employee compensation [1].

Taken together, these factors are shifting Ethereum's narrative from a speculative token to a core financial infrastructure asset. Staking provides a yield comparable to traditional fixed-income instruments, ETFs open a regulated capital channel, and corporate treasuries add real-world utility and liquidity. If Bitcoin is increasingly viewed as "digital gold," Ethereum is emerging as the "global ledger," with 2025 positioning itself as a pivotal year for convergence in digital asset finance.

Source: [1] Staking, ETFs, Treasuries: Is Ethereum's Valuation Being Redefined (https://token.im/blog/en-us/articles/50093313231385-Staking-ETFs-Treasuries-Is-Ethereum-s-Valuation-Being-Redefined)