TLDR
Ethereum staking reached a record 43.8 million ETH in Q3 2026, or 35.9% of total supply.
Net staking inflows totaled 1.99 million ETH, the sixth straight quarter of growth.
The gross staking yield fell from 2.81% to 2.63%.
The validator count dropped from about 1.1 million to 881,000 as operators merged validators after the Pectra upgrade.
Ethereum’s yield trails Solana (5.99%) and NEAR (4.87%), according to Bitwise.
Ethereum staking hit a record 43.8 million ETH in the third quarter of 2026. That equals 35.9% of the token’s total supply, according to Bitwise’s Q4 2026 Staking Report.
This marks the sixth straight quarter of growth for staked ETH. During the same period, the network’s staking yield fell to 2.63%.
Bitwise reported net staking inflows of 1.99 million ETH during the quarter. Those inflows pushed the total amount staked to an all-time high.
With a 35.9% staking ratio, more than one-third of all ETH is now committed to securing the network. That ETH is not immediately available for ordinary transactions.
The headline number does not show how widely validator ownership is spread. It only measures the total amount locked.
Yields Drop as Validator Count Shrinks
The gross staking yield fell from 2.81% to 2.63% over the quarter. Lower yields can make staking less appealing to investors focused on income.
Inflows continued anyway. Some participants stake to support network security or to gain exposure through institutional products.
Bitwise also found that Ethereum’s validator count fell from about 1.1 million to 881,000. This drop happened even as the amount of staked ETH rose.
Bitwise linked the decline to operators combining validators after Ethereum’s Pectra upgrade. The upgrade made it easier for eligible validators to merge their balances.
According to Ethereum’s official staking documentation, Pectra introduced compounding validator credentials. These let eligible validators earn rewards on balances above 32 ETH, up to 2,048 ETH.
This change can cut operating costs for large staking providers. However, fewer validator records do not mean fewer independent operators, and they do not automatically mean more decentralization.
How Ethereum Compares to Rival Networks
In Bitwise’s comparison, Ethereum’s 2.63% yield trailed Solana at 5.99% and NEAR at 4.87%. These figures are not direct measures of investment returns, since each network has different token rules, validator needs and risk profiles.
The data shows Ethereum competes with other proof-of-stake networks for staking capital. For ETH holders, the choice involves more than headline yields.
Staking rewards are paid in ETH. Their dollar value rises or falls with the token’s market price.
Investors using pooled or liquid staking services also face provider fees and redemption terms. Ethereum’s official staking pool guide notes that withdrawal access and speed vary by provider.
Staking inflows, validator concentration and yield changes are the next figures market watchers are tracking. Bitwise’s report covers data through the end of the third quarter.
Ethereum’s price has stayed below $2,500, according to a related report, as BitMine added 12,535 ETH to its holdings.
