Ethereum Staking Surges 28.3% Amid Regulatory Clarity

Ethereum staking has reached a new milestone, with over 35 million ETH, or 28.3% of the total supply, now locked into the network’s proof-of-stake system. This increase in staked ETH has occurred despite the broader market conditions remaining subdued, indicating a strong long-term conviction among holders and a tightening of liquid supply. The trend suggests that many investors are choosing to earn yield through staking rather than selling their ETH at current prices.

The rise in staked ETH follows favorable regulatory guidance from the Securities and Exchange Commission (SEC) in late May. The SEC clarified that protocol-based staking activities do not require registration under the Securities Act, which was seen as a positive development for Ethereum and other proof-of-stake networks. However, the approval of Ether staking ETFs remains pending, with the SEC yet to greenlight Bitwise’s application to include staking in its ETF product.

The staking landscape is dominated by a few major players. Lido, Binance, and Coinbase are the leading platforms, handling over 25% of all staked ETH collectively. Coinbase, in particular, has emerged as Ethereum’s largest node operator, controlling over 11.4% of staked ETH via its validators. While this centralization raises concerns about potential risks, it also reflects the accelerating adoption of staking among institutions.

The surge in staked ETH is contributing to ETH’s reputation as one of the most fundamentally strong digital assets. The rise in staking reflects growing confidence and declining sell pressure. Addresses that have never sold their ETH now collectively hold 22.8 million coins, an all-time high. This momentum, coupled with the regulatory shift, suggests a positive outlook for Ethereum’s future.

The trend of staking is also evident in the behavior of large wallets, with Ethereum witnessing its most intense whale accumulation in seven years. On June 12, large wallets added over 871,000 ETH in a single day, marking the highest daily inflow in 2025. This accumulation has pushed total holdings in 1,000 to 10,000 ETH wallets past 14.3 million ETH. Such heavy accumulation suggests that major players may be positioning ahead of key ecosystem developments or macroeconomic catalysts.

Historical data shows that this type of wallet-level behavior has often preceded sharp price increases. Analysts suggest that upcoming Ethereum upgrades, increased real-world asset tokenization, and growing adoption of Layer 2 networks like Arbitrum and Optimism could be contributing factors. However, not all developments are positive, as Ethereum-linked firms have seen turbulence, with shares plunging after announcing potential ETH allocations.