Ethereum Staking Hits Record 43.8 Million ETH as Annualized Yield Drops to 2.63%

Ethereum staking reached an all-time high of 43.8 million ETH by the end of the third quarter of 2026, locking up roughly 35.9% of circulating supply. However, surging participation diluted validator returns, causing gross annualized yields to fall to 2.63% from 2.81% in the prior quarter. Network inflows totaled 1.99 million ETH across Q3, marking six consecutive quarters of net additions. Issuance accounted for over 96% of staking yield as network fee revenue dropped to $40.6 million. Meanwhile, active validators consolidated to roughly 881,000 under the Pectra upgrade.