Key Takeaways
- • Ethereum staking reached a record 43.8 million ETH at the end of September 2026, nearly 36% of total supply, according to Bitwise's quarterly staking report.
- • Average annualized Ethereum staking yield fell to 2.63% from 2.81% in the prior quarter as rewards were spread across a larger staked pool.
- • Ethereum recorded net staking inflows of just under 2 million ETH in Q3 2026, its sixth consecutive quarter of positive flows, with institutional treasury Bitmine a major contributor.
- • Solana active staking hit a record 440.5 million SOL, or 69% of supply, while gross staking yields declined about 6%.
- • Solana network transactions rose 45% to 14.2 billion and fees jumped 49% to $76 million, driven mostly by memecoin trading; tokenized equities volume climbed 45% to more than $6.9 billion.
Summary
Ethereum staking hit a new record in the third quarter of 2026, even as investors earned smaller yields, according to Bitwise's latest quarterly staking report. As of the end of September, 43.8 million ETH, nearly 36% of the total supply, was locked into staking. Annualized staking yields averaged 2.63%, down from 2.81% in the prior quarter. Bitwise attributed the decline to dilution: as more ETH is staked, rewards are distributed across a larger pool, reducing the yield earned on each token.
Net staking inflows totaled just under 2 million ETH in the third quarter, the sixth consecutive quarter of positive flows. Institutional participation has been a significant driver. Bitwise pointed to Bitmine, the Ethereum treasury company led by Tom Lee, whose staked ETH rose more than 1,000% from 410,000 ETH in December to 5.07 million ETH as of September 27. Newly issued ETH accounted for more than 96% of staking yield, with the remainder coming from transaction tips and maximal extractable value (MEV). Ethereum network revenue fell to roughly $40.6 million from $63 million in the second quarter.
Solana's active staking also reached a record, rising to 440.5 million SOL, or 69% of total supply. As with Ethereum, gross staking yields fell about 6%, with newly issued tokens making up 90% of returns. Solana recorded 14.2 billion transactions, up 45% from the second quarter, while average transaction costs remained mostly flat. Transaction fees rose 49% to $76 million, driven mostly by memecoin trading. Tokenized equities trading volume climbed 45% to more than $6.9 billion.
Net staking inflows totaled just under 2 million ETH in the third quarter, the sixth consecutive quarter of positive flows. Institutional participation has been a significant driver. Bitwise pointed to Bitmine, the Ethereum treasury company led by Tom Lee, whose staked ETH rose more than 1,000% from 410,000 ETH in December to 5.07 million ETH as of September 27. Newly issued ETH accounted for more than 96% of staking yield, with the remainder coming from transaction tips and maximal extractable value (MEV). Ethereum network revenue fell to roughly $40.6 million from $63 million in the second quarter.
Solana's active staking also reached a record, rising to 440.5 million SOL, or 69% of total supply. As with Ethereum, gross staking yields fell about 6%, with newly issued tokens making up 90% of returns. Solana recorded 14.2 billion transactions, up 45% from the second quarter, while average transaction costs remained mostly flat. Transaction fees rose 49% to $76 million, driven mostly by memecoin trading. Tokenized equities trading volume climbed 45% to more than $6.9 billion.
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