Ether staking on the Ethereum Beacon Chain has surpassed $85 billion, with nearly 25% of the circulating supply now locked in staking contracts.
This surge is attributed to increasing investor interest, with 600,000 Ether deposited between February 1 and 15 alone, driving ETH prices to yearly highs above $2,800.
The rising staking volumes signal strong confidence in the Ethereum network, with asset managers looking to integrate staked Ether into their exchange-traded fund (ETF) offerings.
Meanwhile, major U.S. banks and financial institutions are lobbying the Securities and Exchange Commission (SEC) for an overhaul of the current crypto asset definition.
The request, submitted on February 14, highlights the need for regulatory adjustments in light of significant developments, including the approval of Bitcoin ETFs and concerns over the practicality and cost implications of the existing guidance under Staff Accounting Bulletin 121.