Ethereum Supply Crunch: Staking and Corporate Treasuries Absorb Liquid ETH

Ethereum's total supply stood at approximately 122.02 million ETH on September 8, 2026, up about 1% from a year earlier.

The majority of this supply is not liquid, with more than 42 million ETH staked across over 909,771 active validators. This figure has risen by 19% in the last six months, with institutional staking's share increasing to 35.3% during the same period.

In addition to staking, corporate treasuries and exchange-traded products also hold significant amounts of ETH. According to CoinGecko, 34 public companies are holding around 7.91 million ETH, worth roughly USD 19.63 billion and representing about 6.49% of Ethereum's total supply.

The BlackRock iShares Ethereum Trust ETF (ETHA) holds USD 8.605 billion in net assets, with its staking-focused ETHB product holding approximately USD 963.7 million and reporting a 30-day staking rewards rate of 1.63%.