Ethereum staking drives one-year transaction high after SEC guidance
Ethereum staking activity has surged, with over 36 million ETH (≈30% of supply) locked and transactions reaching a one-year high according to Dune Analytics. This momentum follows the SEC’s Division of Corporation Finance issuing guidance on liquid staking, clarifying that liquid staking tokens (LSTs) and staking receipt tokens are not securities under the 1933 Act, thus exempting providers from registration. Industry leaders like Alluvial and Jito Labs hailed the ruling as a DeFi breakthrough. Yet Commissioner Caroline Crenshaw cautioned that the statement relies on multiple assumptions and reflects only one division’s view. Proponents including Commissioner Hester Peirce and Chairman Paul Atkins praised the clarity. Indicators show 500,000 ETH staked in early June and 23 million ETH held in non-selling addresses. Amid pending ETF approvals and DeFi-focused regulations like the CLARITY Act and MiCA updates, this guidance is expected to boost Ethereum staking adoption, tighten liquid supply, and support Ether’s market outlook.
Bullish
The SEC’s clarifying guidance on liquid staking tokens addresses a major regulatory hurdle for Ethereum staking and DeFi. By exempting staking receipt tokens from securities registration, the ruling reduces legal uncertainty and may attract institutional participation. Historical parallels—such as positive price responses to SEC guidance on Bitcoin ETFs—suggest regulatory clarity often drives on-chain activity and market confidence. The record transaction volumes, rising staked supply, and growing non-selling addresses signal strong demand. In the short term, investors may increase staking to earn rewards, tightening liquid supply and supporting price stability. Over the long term, enhanced institutional integration and DeFi expansion could underpin sustained bullish momentum for Ether and its staking ecosystem.