Bhutan Stakes $970K on Ethereum after Launching Digital ID
Bhutan is fully embracing Ethereum for its financial and identification needs. Recently, the kingdom staked approximately $970,000 in ETH following the launch of a national digital ID system on the Ethereum network in October 2025.
The Royal Government of Bhutan engaged in staking by transferring 320 ETH, equivalent to around $970,000, as evidenced by on-chain data from Arkham. The funds shifted from a wallet named “Royal Government of Bhutan” to an Ethereum staking address provided by Figment.
Further inspection of Arkham’s dashboard reveals that the same wallet still holds roughly $1.02 million in Ethereum that remains unstaked. In potential future transactions, this balance could be directed towards staking contracts if the government opts to do so. Bhutan manages its cryptocurrency holdings through its state investment arm, Druk Holding and Investments, which also includes Bitcoin and other digital assets.
In a groundbreaking move on October 13, 2025, Bhutan introduced its national digital identity system on the Ethereum blockchain, making it the first country to do so. Aya Miyaguchi, the CEO of the Ethereum Foundation, recollected her presence at the ceremony alongside Vitalik Buterin and His Royal Highness, stating that it signifies shared values regarding the construction of long-term systems with clear principles. Miyaguchi emphasized that the digital ID system empowers citizens by granting them self-sovereign control over their credentials. The project launch coincides with Ethereum’s 10th year, embodying the transition from early concepts to tangible government applications. Miyaguchi mentioned that the digital ID system is already live on Ethereum, with plans to migrate all credentials by the first quarter of 2026.
On November 27, 2025, Ethereum experienced a notable rebound from a daily support level near $3,000, as displayed on a TradingView chart. Following a decline into the established green demand zone near the lows of late August and mid-October, the price showed resilience and recovered swiftly, reaching $3,071 by 13:53 UTC+1 on Bybit’s ETH/USDT pair. This bounce reaffirms a positive market structure above the support level, with the $3,200 mark presenting the next significant resistance point. The descent from highs near $4,700 in September traced a path within a descending channel, with the $3,000 zone serving as a critical liquidity pocket. Resting indicators during the decline and subsequent recovery suggest improved momentum for a relief rally towards $3,200.
The wallet transfer analysis confirms price rotation within existing bands, without any tied staking or additional buying activities influencing the bounce. The market outlook indicates a potential extension towards $3,200 and beyond if ETH manages to sustain closures above $3,071.
As Bhutan continues its journey into the realm of Ethereum, it underscores the broader adoption and utility of blockchain technology in transforming digital finance and identity verification systems.
