Ethereum staking reaches a new supply milestone

The amount of Ethereum held in staking contracts has climbed to a new high, with the ETH2 Beacon Deposit Contract holding about 83 million ETH. That equals roughly 68.77% of the circulating supply of 120.69 million tokens, based on data from Arkham Intelligence published on April 3.

This marks a 10.67% increase in just three months. The rise reflects faster staking activity from institutional participants as regulatory clarity in the United States continues to improve.

Institutional Ethereum staking is accelerating

Bitmine Immersion Technologies expands its ETH position

Bitmine Immersion Technologies, which describes itself as the largest Ethereum treasury company, reported holdings of 4,732,082 ETH as of March 29. That represents 3.92% of total ETH supply.

Out of that total, 3,142,643 ETH is staked through the company’s MAVAN institutional staking platform. Bitmine said this position is generating annualized staking revenue of $177 million. The company is also pursuing what it calls the “alchemy of 5%,” a strategy centered on accumulating 5% of the total ETH supply.

Its pace of accumulation has been aggressive. In one recent week alone, Bitmine added 71,179 ETH, according to its SEC filing.

Ethereum Foundation moves closer to its staking target

The Ethereum Foundation also increased its staking activity. It staked 45,034 ETH worth about $93 million on Thursday, lifting its total staked amount to around 69,500 ETH.

That brings the foundation close to its stated goal of 70,000 ETH.

BlackRock joins the Ethereum staking ecosystem

BlackRock has entered the staking market as well through its iShares Staked Ethereum Trust ETF. At the time of Arkham’s report, the fund held 44,424 ETH.

Who holds the most Ethereum

Top ETH holders among exchanges and institutions

Arkham’s 2026 breakdown shows Coinbase leading exchange-held ETH with 4.2 million ETH. Binance follows with 3.6 million ETH.

BlackRock holds more than 3 million ETH through its ETF products, placing it among the largest institutional holders.

Largest individual Ethereum holders

Among individuals, Estonian presale investor Rain Lohmus technically holds the largest personal ETH position at 250,000 ETH. However, he lost the private keys to the wallet after buying the tokens for $75,000 during Ethereum’s 2014 presale.

Ethereum co-founder Vitalik Buterin is the top individual holder with accessible funds, with 224,000 ETH.

Ethereum staking growth is tightening available supply

The rise in staking is reducing the amount of ETH readily available on the market.

CryptoQuant data shows that ETH exchange reserves have fallen to their lowest level since 2016. Binance-specific balances are near December 2020 lows of about 3.3 million ETH.

At the same time, CryptoQuant reported that the ETH staking ratio reached an all-time high of 31.4% in late March. That figure tracks direct protocol staking rather than the broader deposit contract total, so it measures a narrower part of overall staking activity.

Analysts say the combination of higher staking participation and lower exchange reserves is creating a structural supply squeeze.

Ethereum supply dynamics behind the staking surge

More ETH is being locked away

With around 83 million ETH now in the ETH2 Beacon Deposit Contract, a large share of the circulating supply is no longer part of the liquid market. That shift matters because it reduces the pool of ETH that can easily move onto exchanges.

Falling exchange reserves add pressure

As reserves on exchanges continue to decline, the supply available for trading becomes tighter. When paired with a rising staking share, that trend points to a market where available ETH is becoming more constrained.

Direct staking and deposit contract totals show the same direction

The broader deposit contract total reached roughly 68.77% of circulating supply, while CryptoQuant’s direct protocol staking ratio hit 31.4% in late March. These are different measurements, but both show the same broad pattern: more ETH is being committed to staking.

What the current Ethereum staking data suggests

The latest numbers point to a clear shift in Ethereum market structure. A growing share of the supply is being locked in staking contracts, and institutional players are helping drive that move.

Bitmine has built a multi-million ETH position and staked a large portion of it through its own platform. The Ethereum Foundation is nearing its staking goal. BlackRock has already established a presence through a staked Ethereum ETF. At the same time, exchange reserves have dropped to multi-year lows.

Taken together, these trends describe a market with increasing staking participation, reduced liquid supply, and mounting signs of a structural supply squeeze.