Ethereum: Staking, Spot ETFs and DATs Now Hold 39.93% of Supply as Bhutan Eyes ETH for National ID Reserves

According to COINOTAG (Oct. 15), on-chain metrics show Ethereum staking represents 29.39% of the circulating supply, while Spot ETFs and Ethereum DATs account for 5.66% and 4.88% respectively, yielding a combined share of 39.93%. Separately, the Kingdom of Bhutan has announced plans to deploy its national identity authentication system on Ethereum, although public records indicate the government currently holds no ETH. The disclosure raises operational considerations—such as procurement, custody and regulatory governance—for any future infrastructure rollout, but there is no confirmed acquisition of reserves. Market participants should monitor verified government statements and on-chain flows for concrete developments.

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