Ethereum turned 11 this week, and the network is marking the occasion with a milestone of its own: a record 40.2 million ETH is now staked, according to on-chain data cited by AMBCrypto. That figure represents roughly 33% of Ethereum's total supply and is valued at more than $63 billion at current prices — the largest share of the network's coins ever committed to securing it.
The anniversary comes as the network's economics continue to shift years after its move away from energy-intensive mining. Proof-of-stake, adopted in Ethereum's 2022 Merge, replaced miners with validators who lock up ETH to process transactions and earn rewards, and the steadily climbing staking total suggests holders are still finding that trade-off worthwhile even as yields have compressed from the network's early post-Merge years.
BlackRock Clients Rotate Toward ETH
Institutional flows added a notable wrinkle to the anniversary week. BlackRock clients withdrew $60 million from the asset manager's IBIT Bitcoin ETF over the period while simultaneously buying more than $20 million worth of ETH, a shift that points to at least some institutional appetite moving from Bitcoin toward Ethereum rather than out of crypto altogether.
On-chain movements told a similar story about conviction among large holders. A wallet tracked by blockchain analysts under the address 0x2d59 transferred 40,000 ETH, worth approximately $76.58 million, off Binance — a withdrawal size and destination pattern more commonly associated with long-term holding than with active trading or an imminent sell.
Related: Ethereum Genap 11 Tahun: Menengok Kembali Genesis Block Pendirinya
A Foundation Built Over a Decade
Raj Karkara, an executive at Indian exchange ZebPay, framed the anniversary in broader terms. “Ethereum has evolved from an ambitious vision of a programmable blockchain into the foundation of a thriving digital ecosystem,” Karkara said, pointing to the network's sustainability gains since abandoning proof-of-work and its continued scalability upgrades as evidence of that maturation.
“Ethereum has evolved from an ambitious vision of a programmable blockchain into the foundation of a thriving digital ecosystem.”
What Comes Next
Whether the staking record and institutional rotation translate into a sustained price rally remains the open question. Anniversaries and record-setting statistics tend to generate short-term attention, but the momentum needs to hold beyond the celebratory news cycle for the record staking figure to matter for price rather than just for network security metrics. For now, the combination of record ETH locked up and BlackRock-linked buying gives bulls a concrete data point heading into the network's twelfth year.
