Deep DiveMarketsOct 13, 2026
Staked ETH Is Concentrating in Owners, Not Yet in Operators
Bitmine's 6,016,414 ETH and 5,067,309 staked ETH make institutional capital central to Ethereum staking. The evidence shows concentrated ownership, not proven operator centralization, and Bitmine's reported yield sits near the network base rate. Lido's share is falling, validator consolidation is shrinking the validator set, and MEV and builder data remain a gap.
Blockchain Academics Research18 min read