Ethereum News Today: Ethereum Staking Surges to One-Year High Amid SEC Guidance on Liquid Staking

Ethereum transaction volumes have surged to a one-year high amid ongoing regulatory discussions surrounding staking activities, particularly after the U.S. Securities and Exchange Commission (SEC) released new guidance on liquid staking. According to Dune Analytics, over 36 million Ether (ETH) is currently staked on the Ethereum network, accounting for nearly 30% of the total token supply [1]. This significant amount of tokens locked into smart contracts suggests that many ETH holders are choosing to forgo immediate liquidity in favor of staking rewards, a move that reduces the circulating supply and could contribute to price stability [2].

The rise in Ethereum activity follows a "Statement on Certain Liquid Staking Activities" issued by the SEC’s Division of Corporation Finance, which outlined the division’s position that such activities, and the issuance of staking receipt tokens, do not necessarily fall under the definition of a security under the 1933 Securities Act [3]. This has been viewed as a positive development by the DeFi industry, with industry experts noting that it could pave the way for broader institutional adoption of liquid staking tokens (LSTs). Mara Schmiedt, CEO of Alluvial, stated that the guidance could drive new revenue streams and expand customer bases within the sector [4].

However, the SEC’s position is not entirely unified. Commissioner Caroline Crenshaw expressed skepticism, suggesting that the division’s assumptions may not align with the practical realities of the market and that the legal conclusions drawn from the statement apply only under very specific conditions [5]. She emphasized that the guidance reflects only the views of the Division of Corporation Finance and not the entire SEC, cautioning that stakeholders should not take it as a blanket endorsement of their activities [6].

On the other hand, Commissioner Hester Peirce, often referred to as “Crypto Mom,” supported the guidance, noting that the division has clarified its position on liquid staking and emphasized that it does not involve the offer and sale of securities [7]. Chairman Paul Atkins also praised the move as a “significant step forward” in defining the SEC’s stance on crypto activities outside its jurisdiction [8].

The optimism within the Ethereum ecosystem is reflected in recent on-chain activity. Over 500,000 ETH, valued at approximately $1.8 billion at the time of the report, was staked in the first half of June alone [9]. Additionally, blockchain addresses with no history of selling ETH have increased, currently holding around 23 million ETH, worth approximately $82.6 billion [10]. These trends indicate growing confidence in the Ethereum network and a shift toward long-term holding behaviors among token holders.

Despite these developments, the DeFi industry still operates in a legal gray area, particularly in the United States. The SEC has delayed a decision on Bitwise’s application to include staking in its Ether ETF, and broader legislative efforts, such as the CLARITY Act, remain pending in Congress [11]. Meanwhile, the European Union’s Markets in Crypto-Assets regulation does not yet include provisions for DeFi, though lawmakers have indicated that it will become a priority in 2026 [12].

As regulatory frameworks continue to evolve, the Ethereum network and the broader DeFi industry remain in a period of transition, balancing innovation with the need for compliance. The recent surge in staking and transaction volumes suggests that users are adapting to the shifting landscape, with many opting for long-term strategies in the face of regulatory uncertainty.

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[1] title1 (https://cointelegraph.com/news/ethereum-transaction-volumes-year-high-sec-staking-drama)