Grayscale, Bitmine stake nearly $500 million in Ethereum: On-chain data

Ethereum's staking ecosystem expands as major players solidify their positions, impacting available trading supply.

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Add us on Google by Vivian Nguyen Apr. 24, 2026

Grayscale Investments and Bitmine have collectively staked almost $500 million over the past 24 hours, according to on-chain data from Arkham Intelligence.

Grayscale staked another 102,400 Ether worth about $237 million. The deposit was executed in 32 separate transactions from Grayscale’s Ethereum Trust wallet to Coinbase Prime.

The leading digital asset fund manager activated staking for its Ethereum products, including Grayscale Ethereum Staking ETF (ETHE) and Grayscale Ethereum Staking Mini ETF (ETH) on October 2025 and has since accumulated nearly $38 million in net staking rewards, per its data.

Grayscale CEO Peter Mintzberg said the firm’s low-cost Ethereum fund ranked first among all US exchange-traded product providers during the first quarter of 2026, pulling in $337 million in inflows.

As of April 24, combined assets under management for ETHE and ETH have reached $4 billion.

Approximately 39 million ETH is currently locked in staking contracts across the network, according to beaconcha.in. Nearly a third of all Ethereum that exists is voluntarily taken off the market by holders earning yield on it. Every additional chunk that gets staked shrinks the pool of ETH available for trading.

Bitmine Immersion Technologies is now the largest corporate Ethereum staker and holder. The firm disclosed this week that its staked ETH reached 3,3 million units, equivalent to 67% of total holdings.

Lookonchain reported that Bitmine also staked 112,040 ETH on Friday, lifting the total staked ETH to 3,7 million, representing around 74% of its total holdings.

Tom Lee(@fundstrat)'s #Bitmine staked another 112,040 $ETH($259.6M).

In total, #Bitmine has staked 3,701,589 $ETH($8.58B), 74.38% of its total holdings.https://t.co/P684j5YQaG pic.twitter.com/sgn9wGZb1z

— Lookonchain (@lookonchain) April 25, 2026

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.