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Bitwise's Q4 2026 Staking Report shows that Ethereum staking reached an all-time high of 43.8 million ETH, representing 35.9% of total supply and marking six consecutive quarters of growth. The yield paid to stakers fell from 2.81% to 2.63% over the quarter, the lowest band since the Merge.
Why it matters
The ratio is no longer the story; the multi-quarter trajectory is. Six straight increases in staked ETH while yield compresses says something specific about holder behavior: validators are being added not because the carry is attractive, but because the supply-side lockup is. Every additional million ETH staked is a million that cannot be sold, lent against, or routed through DeFi at the same leverage. The shrinking yield is the price the network is paying to keep raising that wall.
Market impact
For comparison, Solana's staking ratio held at 69% with yields sliding from 6.38% to 5.99%, while NEAR sat at 46% with a 4.87% yield. The ETH figure still trails both on participation, but the direction is what institutional allocators track: Bitwise framed the report as evidence of a maturing, structurally harder-to-unwind ETH float.
The same report flagged Solana tokenized-stock trading up 45% to $6.93 billion for the quarter, with Robinhood Chain's daily tokenized stock volume rising 22-fold. The staking data is the headline; the tokenization data is the under-the-radar signal that RWA rails on non-ETH chains are now compounding quarterly.
Context
The 35.9% ratio maps cleanly to the 32-ETH validator requirement era.
Source: [The Bitwise Staking Report (Q4 2026) — Bitwise Investments](https://bitwiseinvestments.com/crypto-market-insights/the-bitwise-staking-report-q4-2026)
Frequently asked questions
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How much Ethereum is staked according to Bitwise's Q4 2026 report?
Bitwise's Q4 2026 Staking Report puts Ethereum staking at 43.8 million ETH, representing 35.9% of total supply and marking six consecutive quarters of growth.
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What yield did Ethereum stakers earn in Q4 2026?
The staking yield paid to Ethereum validators fell from 2.81% to 2.63% during the quarter, described as the lowest yield band since the Merge.
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How does Ethereum's staking ratio compare to other major proof-of-stake chains?
Ethereum's 35.9% staking ratio trails Solana at 69% and NEAR at 46%. ETH's yield of 2.63% sits below Solana's 5.99% and NEAR's 4.87%.
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What does six straight quarters of Ethereum staking growth signal?
Bitwise framed it as a maturation marker for Ethereum proof-of-stake. The combination of rising participation and compressed yield points to structural supply being locked into validators rather than yield-driven inflows.
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What tokenization data appeared in the same Bitwise report?
Solana tokenized stock trading volume rose 45% in Q4 2026 to $6.93 billion, while daily tokenized stock volume on Robinhood Chain increased 22-fold during the quarter.
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