Ethereum staking hits record 43.8M ETH, 35.9% of supply: Bitwise

The record staking share matters less for its headline number than for what it does to market structure: a growing slice of ETH supply is now locked and yield-bearing, which thins the liquid float and ties more holders to protocol-level returns. The falling average yield alongside rising stake is the tension worth noting — more capital chasing the same issuance, with nearly all of it coming from ETH rather than tips. Whether that yield compression slows further inflows is the open question, and it makes the ETH-versus-SOL staking comparison a useful gauge of where validator capital is choosing to sit.