Ethereum has achieved a significant milestone this week, as both its staking figures and market price saw notable surges. The total amount of ETH staked has reached an all-time high, while its price rallied past the $2,700 mark, a level that had repeatedly acted as resistance in recent weeks. Institutional interest, growing anticipation of staked Ether ETFs, and investor preference for yield over selling have all contributed to this momentum.

Staking Surges to Record 34.8 Million ETH

Ethereum’s staking metrics have hit a new peak, with over 34.8 million ETH now locked on the Beacon Chain, according to Dune Analytics. This marks a historic high, surpassing the previous record set on November 10, 2024. The platform Ultrasound.Money also confirms a similar figure of 34.7 million ETH staked.

The rise in staked Ether suggests increasing confidence among long-term holders. Rather than selling at current prices, many are opting to secure passive income through staking. As of Monday, staked Ethereum accounts for approximately 28.7% of the total circulating supply, which currently stands at 120.8 million ETH.

Notably, the amount of staked ETH has been consistently above 33 million for the past year, but recent data from Beaconcha.in shows that activity started to ramp up again in early June.

ETF Approval Anticipation Adds Fuel

The staking milestone arrives amid growing speculation around spot Ether ETF approvals in the United States, with particular focus on whether the SEC will greenlight staking features within these funds.

A recent filing by REX Shares hints at “regulatory workarounds” being explored to enable staking functionality in ETFs. At the same time, BlackRock’s iShares Ethereum Trust (ETHA) has shown strong signs of accumulation. The fund has experienced 23 consecutive trading days without a single outflow, reflecting sustained institutional demand.

Analysts suggest that a staked Ether ETF could debut within weeks, further boosting Ethereum’s yield appeal and potentially attracting a wave of new institutional capital.

Price Breaks $2,700 After Two-Week Rally

Ethereum’s market price also saw a resurgence, climbing more than 8% in a single day to reclaim the $2,700 level on Tuesday, its highest price since May 29. While ETH has yet to return to its all-time highs, it has gained around 50% over the past two years, despite the broader market’s volatility.

The $2,700 range has served as a formidable resistance zone, having halted Ethereum’s rally four times over the past month. Breaking past this barrier with sustained momentum could open the door to further upside in the near term.

Long-Term Sentiment Remains Bullish

Despite Ethereum’s moderate price gains in the last two years, the massive growth in staking up 77% in that time, reflects rising trust in the network’s fundamentals. Investors appear more inclined to lock up assets for yield, especially in anticipation of ETF-driven institutional adoption and Ethereum’s broader roadmap.

The return of net inflation in ETH issuance earlier this year hasn’t deterred stakeholders either, suggesting that Ethereum’s dual utility as a smart contract platform and a yield-generating asset is holding strong appeal.

Ethereum’s climb past $2,700 and its record staking figures signal increasing investor confidence and institutional interest. With the potential introduction of staking-enabled ETFs and a sustained surge in ETH accumulation, Ethereum may be poised for a significant breakout, both in terms of price and broader adoption.