The Bitwise Staking Report, Q3 2026
San Francisco • Jul 23, 2026
The Bitwise Staking Report is our new quarterly digest of staking and protocol metrics across the industry's leading proof-of-stake networks.
In this inaugural report, one pattern emerges clearly from the data: divergence. Prices fell while fundamentals rose, staking hit records, and usage climbed. The only protocol metric that fell was fees—and that was by design.
Key takeaways:
A record 40.2M ETH—33% of supply—is now staked. Most of the new stake this year comes from institutions: staking ETFs, corporate treasuries, and other large holders, who added stake even as prices fell.
Staking ratios stayed high across every network we cover: Solana 68%, Near 45%, Hyperliquid 44%, Avalanche 41%.
Networks got busier and cheaper. Ethereum's throughput rose 73% and Avalanche processed 4x the transactions of a year ago. Both made blockspace cheaper on purpose, and demand rose in response.
Institutional staking is reaching younger networks. On Hyperliquid, Coinbase and Circle each recently staked 500,000 HYPE.
The full report breaks it down network by network: Ethereum, Solana, Hyperliquid, Avalanche, Near, and the new Tempo chain.
Read the Full ReportBitwise Asset Management is a global asset manager specializing in crypto and onchain finance with a nine-year track record and more than $14 billion in client assets. The firm’s suite of over 70 investment products—spanning ETFs, option income strategies, model portfolios, DeFi vaults, tokenized funds, and staking—helps investors access opportunities across the financial frontier. Bitwise serves more than 5,500 private wealth teams, RIAs, family offices, and institutional investors, as well as 21 banks and broker-dealers. The company is headquartered in San Francisco, with offices in New York and London.
