Ethereum Staking Participation Reaches All-Time High of 50%
February 18, 2026
Recently, Ethereum’s staking contract made a groundbreaking achievement by accumulating more than half of the total supply of the asset. This milestone was reported by analysts at Santiment, who calculated that the staking contract now holds a 50.18% share of Ethereum’s total supply, equivalent to 80.95 million ETH. This is the first time in the coin’s 11-year history that this significant milestone has been reached. It is important to note that this calculation is based on the historical issuance volume of Ethereum prior to the implementation of the burning mechanism. Currently, there are approximately 120 million ETH in circulation.
At present, there are 36.9 million ETH locked in the Ethereum mainnet, representing 30.41% of the leading altcoin’s total supply. The number of active validators stands at 966,134, indicating a robust level of participation in the staking process. The Ethereum staking queue has also reached near historical highs, with 3.8 million ETH currently in the queue, resulting in a waiting time of around 67 days. This figure peaked at 4.1 million ETH on February 12, showcasing the growing interest and participation in Ethereum staking.
In terms of market activity, there has been a noticeable trend shift since December 27, with a significant increase in the number of coins being locked in staking. Industry experts have pointed out that this trend could be attributed to aggressive purchases of coins by large treasury companies followed by locking them up for staking rewards. One such example is BitMine, which recently announced the purchase of 45,759 ETH, increasing the company’s reserves to 4.3 million ETH, valued at $9.6 billion. Of these, 3 million tokens, worth $6.1 billion, are locked in staking, potentially generating an annual passive income of $176 million based on current asset prices and a composite rate of 2.84%.
Despite the recent downturn in Ethereum’s price, which has seen a decline of more than 40% over the past month, companies like BitMine remain committed to accumulating and staking Ethereum for long-term gains. In fact, BitMine’s chairman, Tom Lee, affirmed that the company will continue its accumulation strategy regardless of short-term price fluctuations, signaling their confidence in the future growth potential of Ethereum.
On a separate note, BlackRock, the world’s largest asset manager, has initiated steps to launch a profitable Ethereum fund in the US. Through an affiliated company structure, BlackRock acquired 4,000 seed shares at $25 each, totaling $100,000 in initial capital for the iShares Staked Ethereum Trust ETF (expected ticker ETHB). This new exchange-traded structure plans to stake between 70% and 95% of assets based on market conditions, offering institutional investors an opportunity to earn staking income through a traditional exchange-traded product. The fund will be structured differently from the existing BlackRock spot Ethereum ETF (ETHA), as it will provide additional income through staking rewards. With an average annual yield of 3% at the beginning of 2026, the iShares Staked Ethereum Trust ETF aims to capitalize on the growing interest in Ethereum staking among institutional investors.
