By Isaac • July 25, 2026 7:52 pm •
Ethereum has never had more ether committed to its proof-of-stake system.
The annual reward for doing it keeps getting smaller.
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Those lines are moving in opposite directions because Ethereum pays less per validator as the pool grows.
Ethereum ended the second quarter of 2026 with a record 40.2 million ETH staked, according to Bitwise. That was 33% of the entire supply.
Bitwise measured the network’s gross annualized staking yield at 2.84% for the quarter, down from 3.35% in the first quarter of 2025.
Millions of additional ETH entered the validator set during that period, spreading protocol rewards across a larger active balance.
LATEST: 📊 Ethereum staking hit a record 40.2M ETH (33% of the supply)
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