Ethereum Staking Surge: Grayscale and Bitcoin Pledge Nearly $500 Million
TLDR:
Grayscale acquired 102,400 ETH shares worth $237 million through 32 transactions, bringing its net stock award to nearly $38 million.
Bitmine now holds 3.7 million shares of ETH worth $8.58 billion, which represents 74% of all Ethereum holdings.
The Greyscale Ethereum Mini ETF was the top US ETF provider in Q1 2026, recording $337 million in net revenue.
About 39 million ETH are locked up in network-wide contracts, removing about one-third of all ETH from circulation.
Ethereum stock activity surged, with Grayscale Investments and Bitmine trading nearly $500 million in 24 hours.
On-chain information from Arkham Intelligence confirmed both transactions. Greyscale has deposited 102,400 ETH through Coinbase Prime, valued at $237 million.
Bitcoin followed with an additional 112,040 ETH, valued at $259.6 million. Both companies currently rank among the most active institutional Ethereum stakeholders globally. This activity reflects growing institutional confidence in ETH's infrastructure and long-term utility.
Grayscale will build a staking position for ETH in its products.
Greyscale made its latest deposit in 32 separate transactions. Funds are moved directly from Ethereum Trust Wallet to Coinbase Prime.
The asset manager first activated the Ethereum Stock Exchange for its products in October 2025. Since then, he has collected nearly $38 million in net stock awards.
The company operates two staking-based Ethereum products in the United States market. These are the Grayscale Ethereum Staking ETF (ETHE) and the Mini ETF (ETH).
As of April 24, combined assets under management for both products reached $4 billion. Steady income streams have driven that growth since storage capacities began.
Grayscale CEO Peter Mintzberg shared performance figures for the first quarter of 2026. He pointed out that the mini ETF is the top of all US ETF providers.
The fund collected $337 million in net income during that period alone. Mintzberg points to Ethereum's record-breaking 200 million and on-chain transactions for Q1.
In an official post, Mintzberg wrote that Ethereum recorded the busiest quarter ever on the chain. He cited $180 billion in stablecoin activity and the expansion of programmable financial infrastructure.
Actual usage is growing, and pinching fits that basic investment theory. Grayscale sees Ethereum as a cornerstone of its product strategy.
Bitmin leads the race as the largest corporate Ethereum staker.
Bitmine Immersion Technologies now holds the highest position among corporate Ethereum stakeholders. The company announced this week that its stake in ETH reached 3.3 million units.
This amount represents 67% of the total Ethereum holdings at the time. Currently, there is no other entity that matches the amount of Bitmine ETH.
The firm expanded its position further on Friday. According to Lookonchain, Bitmine added an additional 112,040 ETH on the day.
After the deposit, the total ETH stake increased to 3.7 million units. That is now roughly 74% of Bitmine's total ETH holdings.
On-chain tracking revealed that Bitmine's total stake in ETH is $8.58 billion. How much has Tom Lee's firm yield-driven ETH Treasury strategy built?
Each additional share strengthens its position as the dominant institutional owner. The company's approach is drawing attention from other corporate entities looking at the ETH markets.
Almost 39 million ETH of the wider Ethereum network are currently locked up in stock contracts. That's close to a third of Ethereum's entire existence.
Removing this supply from the open market will reduce the available trading volume. More institutional stock will further strengthen the existing ETH supply pool over time.
