TechFlow reports, citing CoinDesk, that as the approval of Ethereum ETFs (exchange-traded funds) draws near, the amount of staked Ethereum (ETH) is approaching an all-time high. According to CryptoQuant data, the total staked ETH currently stands at 33.3 million, representing 27.7% of the total supply. Polymarket speculators assign a 90% probability that an Ethereum ETF will be approved in the U.S. by July 26. Despite increasing ETH supply, staking and burning mechanisms have partially offset its inflationary pressure. In recent weeks, ETH spot trading volume has reached 80%-90% of Bitcoin (BTC) trading volume.
Additionally, CoinMetrics data shows that approximately 12% of the ETH supply is used in smart contracts or cross-chain bridges. Combined with staked ETH, around 40% of the total ETH supply is "locked" and not actively traded. Currently, several firms including Invesco and Galaxy have announced proposed management fees of 0.25% for their spot Ethereum ETFs, slightly higher than VanEck’s 0.20%. However, prior to trading commencement, the U.S. Securities and Exchange Commission (SEC) must provide feedback on the pending applications, and issuers will need to file final amended forms containing fee details and other required information.
