Ethereum Staking Surge: Grayscale and Bitmine Commit Nearly $500 Million
TLDR:
Grayscale staked 102,400 ETH worth $237M via 32 transactions, bringing its net staking rewards to nearly $38 million.
Bitmine now holds 3.7 million staked ETH worth $8.58 billion, representing 74% of its total Ethereum holdings.
Grayscale’s Ethereum Mini ETF ranked first among US ETP providers in Q1 2026, recording $337 million in net inflows.
Nearly 39 million ETH is locked in staking contracts network-wide, removing close to one-third of all ETH from circulation.
Ethereum staking activity has surged, with Grayscale Investments and Bitmine collectively committing close to $500 million within 24 hours.
On-chain data from Arkham Intelligence confirmed both transactions. Grayscale deposited 102,400 ETH worth roughly $237 million through Coinbase Prime.
Bitmine followed with an additional 112,040 ETH valued at about $259.6 million. Both firms now rank among the most active institutional Ethereum stakers globally. This activity reflects growing institutional confidence in ETH’s staking infrastructure and long-term utility.
Grayscale Builds ETH Staking Position Across Its Products
Grayscale executed its latest staking deposit through 32 separate transactions. Funds moved from its Ethereum Trust wallet directly to Coinbase Prime.
The asset manager first activated Ethereum staking for its products in October 2025. Since then, it has accumulated nearly $38 million in net staking rewards.
The firm operates two staking-focused Ethereum products in the US market. These are the Grayscale Ethereum Staking ETF (ETHE) and the Mini ETF (ETH).
Combined assets under management for both products reached $4 billion as of April 24. Steady inflows have driven that growth since staking capabilities launched.
Grayscale CEO Peter Mintzberg shared performance figures for the first quarter of 2026. He noted that the Mini ETF ranked first among all US ETP providers.
The fund pulled in $337 million in net inflows during that period alone. Mintzberg also pointed to Ethereum’s record-breaking 200 million-plus on-chain transactions for Q1.
In a public post, Mintzberg wrote that Ethereum recorded its busiest quarter ever on-chain. He cited $180 billion in stablecoin activity and the expansion of programmable finance infrastructure.
Real usage is growing, and staking aligns with that fundamental investment thesis. Grayscale views staking as a core pillar of its Ethereum product strategy.
Bitmine Leads the Race as the Largest Corporate Ethereum Staker
Bitmine Immersion Technologies now holds the top position among corporate Ethereum stakers. The firm disclosed this week that its staked ETH had reached 3.3 million units.
That amount represented 67% of its total Ethereum holdings at the time. No other corporate entity currently matches Bitmine’s scale of ETH staking.
The firm expanded its staked position further on Friday. Lookonchain reported that Bitmine staked an additional 112,040 ETH on that day.
After the deposit, total staked ETH climbed to 3.7 million units. That now equals approximately 74% of Bitmine’s overall ETH holdings.
The on-chain tracker noted that Bitmine’s cumulative staked ETH is worth $8.58 billion. Tom Lee’s firm has built what amounts to a yield-driven ETH treasury strategy.
Each additional stake reinforces its position as a dominant institutional holder. The firm’s approach is drawing attention from other corporate entities watching the ETH markets.
Across the broader Ethereum network, roughly 39 million ETH is currently locked in staking contracts. That is close to one-third of all Ethereum in existence.
Removing this supply from the open market reduces available trading liquidity. Additional institutional staking further tightens the available ETH supply pool over time.
