Ethereum Staking Reaches New Record Amid Institutional Interest

According to Cointelegraph, the amount of Ether (ETH) staked on the Beacon Chain has reached a new record high, with 34.65 million ETH staked as of Sunday. This surpasses the previous peak recorded on November 10, 2024. The staking levels have remained relatively stable above 33 million for the past year, but began to increase again in June, as reported by the network explorer Beaconcha.in. This rise in staking suggests that more Ether holders are opting to stake their assets for yield rather than selling at current market prices. A Dune Analytics dashboard confirmed this record, noting that 34.8 million ETH was staked as of Monday, while Ultrasound.Money reported a slightly lower figure of 34.7 million. The analytics platform also highlighted that the staked amount represents 28.7% of the current circulating supply of Ether, which stands at 120.8 million. This comes as issuance returned to an inflationary state in February. The increase in staked Ether coincides with anticipation in the industry for the approval of spot Ether ETF staking by the U.S. Securities and Exchange Commission. Analysts predict that staked Ether ETFs could be introduced "within the next few weeks," following a recent filing by ETF provider REX Shares, which employed "regulatory workarounds." Meanwhile, BlackRock's iShares Ethereum Trust (ETHA) has been actively accumulating Ether, marking 23 consecutive trading days without any outflows, according to Farside Investors. Despite the asset's modest price performance over the past two years, with a gain of approximately 50%, the amount of Ethereum staked has surged by 77% during the same period. On Tuesday, ETH prices rose by more than 8%, reaching $2,700, the highest level since May 29. This price point has acted as resistance four times over the past month, indicating that breaking through this level is crucial for continued upward momentum.