Pectra upgrade spurs ETH staking surge, consolidating validators and cutting costs

We’re currently past the halfway mark of 2025, and the percentage of the total ETH supply staked stands at an all-time high of 29.39% at the time of writing. This further inches Ethereum closer to having one-third of its token supply staked.

For reference, at the beginning of the year, Ethereum had just 28.1% of its total token supply staked, with it even declining towards a yearly low of 27.2% in March. In the three months since, this figure has rapidly increased to set record highs, surpassing its previous record high of 28.7% from November 2024.

Ethereum’s Pectra upgrade likely catalyzed the trough and subsequent reversal in this trend in March. The upgrade lifted the maximum stake per validator from 32 ETH to 2,048 ETH. This enabled larger staking providers to merge hundreds or thousands of smaller nodes into fewer, high-capacity validators, thereby significantly reducing hardware expenses and operational overhead.

Looking ahead, Cboe’s March filings, which allow spot ETH ETFs to stake their holdings, signal that large funds may soon route fresh ETH into validators. Projected inflows into these staking ETFs would further boost the percentage of supply staked, which would enhance security but also concentrate power in a handful of regulated custodians.

This is an excerpt from The Block’s Data & Insights newsletter. Dig into the numbers making up the industry’s most thought-provoking trends.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

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