Bhutan Expands Ethereum Commitment With $970,000 Staking Investment
The Royal Government of Bhutan transferred 320 Ethereum worth approximately $970,000 to institutional staking provider Figment on November 27, 2025. According to Cointelegraph, blockchain data from Arkham Intelligence confirms the transaction occurred at 10:30:35 UTC. The transfer represents Bhutan's first Ethereum activity since May 2025, when the government moved 570 ETH to Binance.
The staked amount activates 10 new validators on the Ethereum network. Each validator requires 32 ETH for operation. Druk Holding and Investments, Bhutan's state investment arm, manages the wallet that executed the transaction. The government still holds 336 ETH worth over $1 million in unstaked Ethereum assets. Bhutan maintains 6,154 Bitcoin valued at $562 million, making it one of the largest sovereign cryptocurrency holders globally.
Digital Identity System Drives Ethereum Integration
The staking move supports Bhutan's national digital identity system launched on Ethereum in October 2025. The country became the first nation to deploy a government identity platform directly on the Ethereum blockchain. Ethereum Foundation president Aya Miyaguchi attended the launch alongside Vitalik Buterin and Prime Minister Tshering Tobgay. All resident credentials are expected to complete migration from Polygon to Ethereum by early 2026.
According to Figment, Ethereum now secures over 1.06 million active validators with more than 34 million ETH staked, representing about 28 percent of total supply. The institutional staking sector has grown following regulatory clarity from the SEC in May 2025. Current staking rewards range between 3 to 4 percent annually. The Pectra upgrade implemented in May 2025 improved large-scale validator operations for institutional participants.
We previously reported that Bhutan transferred $107 million in Bitcoin following the Federal Reserve's first rate cut of 2025. The country's Bitcoin strategy has helped double civil servant salaries through cryptocurrency revenues. The emergence of sovereign digital asset holders represents a fundamental shift in market structure.
Sovereign Blockchain Adoption Accelerates Institutional Trend
Bhutan's dual approach of staking and infrastructure deployment positions the country at the forefront of government blockchain integration. The kingdom designated Bitcoin, Ethereum, and Binance Coin as strategic reserve assets for its Gelephu Mindfulness City development project. Officials selected these assets due to strong liquidity and large market capitalization. The reserves aim to support the regional digital economy and improve economic resilience.
The move occurs as institutional Ethereum staking reaches mainstream adoption in 2025. According to CoinDesk, spot Ethereum ETFs hold significant positions as the second largest staking category. Figment operates as a leading institutional provider helping large investors stake digital assets across multiple blockchains. The platform offers enterprise-grade infrastructure with multi-cloud architecture and zero-trust access controls.
Government adoption of public blockchains for civic functions remains rare globally. Bhutan's integration of Ethereum for both monetary reserves and identity infrastructure creates a precedent for nations exploring sovereign digital solutions. The country began accumulating Bitcoin in 2019 by using hydropower resources for mining operations. In July 2025, Bhutan announced plans to integrate cryptocurrency payments across nearly 1,000 merchants to boost tourism and attract younger travelers.
